Despite the pandemic Kenyans embraced saccos

The Mountain Journal

Sacco Society Registration Authority (SASRA) has ranked the cooperatives in the financial sector according to assets, deposits and loans granted in the last financial year (2019-2020), with the giant Mwalimu Sacco rated the best with an asset base of Sh57.73 billion.

In the ranking, the regulator indicated that Mwalimu members deposited Sh 41.42 billion and disbursed loans totalling Sh38.32 billion in the year.

Acting CEO Peter Njuguna reported that despite the Covid 19 pandemic, the sector registered an impressive growth posting asset base of Sh627.68 billion, with members deposit of Sh431.46 billion and disbursed loans amounting to Sh474.77 billion.

The regulator indicated that in the year under review loans grew by 13.16 percent to reach Sh474.77 billion, while the net loans and advances equally increased to Sh450.58 billion.

“Loan loss stood at Sh24.19 billion in 2020 compared to Sh19.38 billion in 2019,” said Njuguna in the report on the performance of the saccos.

Assets in the sector grew to Sh677.68 billion in 2020 up from Sh556.71 billion in 2019.

At glance

Sacco members in the Sasra register are 5,470,192.

Public servants have 37 saccos.

Teachers have 43 saccos.

Farmers based saccos are 24.

Community based saccos are 22.

In the Mt Kenya region , several sacco are in the top 100 list. In the sixth position is the Kiambu based Metropolitan Sacco with an asset base of Sh16.73 billion, deposit amounting to Sh7.64 billion and loans worth Sh 16.67 billion disbursed in the year under review.

Murang’a based Unaitas Sacco was ranked in the position seven with an asset base of 16.57 billion, members deposited Sh8.92 billion and loans disbursed at Sh14.13 billion.

Also, Murang’a county based Mentor Sacco was ranked in the 17th position with an asset base of Sh8.92 billion, members deposited Sh6.78 billion and in the year disbursed a total of Sh6.50 billion.

New Fortis Sacco emerged in position 19, with loans disbursed at Sh5.86 billion, asset base of 8.18 billion, and members deposit worth Sh5.97 billion.

Another Murang’a based Amica Sacco in the position 38, reflects an asset base of Sh4.55 billion, deposits valued at Sh3.51 billion and disbursed loans worth Sh3.52 billion to the members.

Teachers founded Unison Sacco of Laikipia county, posted an asset base of Sh4.33 billion and in the year disbursed loans worth Sh3.98 billion.

Nyeri based Taifa Sacco, was placed it in the position 47 with an asset base of Sh3.68 billion, Kiambu based Tai Sacco posted an asset base of Sh3.13 billion and placed in position 53. Bingwa Sacco has an asset base of Sh6.21 billion up from Sh5.82 billion in 2019.

Leading PSV 2NK Sacco has an asset value of Sh810 million according to the report.

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