List of registered and Licenced SACCOS in kenya 2020

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They provide members with valuable information that allows them to invest in the best markets that promise big returns. Saccos in Kenya list in the thousands as almost every business, community, neighbourhood and matatu route has a Sacco.

The best-managed Saccos in Kenya safe guard interests of their stakeholders and provide them with avenues to advance their wealth with minimal risk.Read this article and discover the Saccos you should join to earn and expand your business in 2020. What follows is a comprehensive list of the best Saccos in Kenya.

1. Stima Sacco has six branches in total;

Nairobi, Mombasa, Kisumu, Nakuru, Olkaria and Eldoret.

Plans are underway to open two more branches in Nairobi’s CBD and Embu.

2. Mhasibu Sacco

Mhasibu is a Sacco that was founded by the Institute of Certified Public Accountants of Kenya (ICPAK).

Mhasibu means accountant in Swahili and targets members who serve in the accountancy profession including students and institutions that offer accountancy training.

Sacco has expanded exponentially since is birth in 1986 and has a market potential of reaching 500,000 members.

It has well over 18,000 at the current moment and a share capital of 2.8 billion as of April 2016.

3. Waumini Sacco

Waumini Sacco offers credit and savings for individuals and corporate institutions.

Its dominant membership lies in the catholic diocese with over 26 registered dioceses with over 21,000 members registered.

The Sacco has branches in Nakuru, Kisii and a liaison office in Rongai with more to be set up countrywide.

4. Kimisitu Sacco

Kimisitu Sacco is a credit and savings cooperation predominantly representing the employees of international organisation, foreign mission, non-governmental organisations.

Kimisitu membership is open to employees in the following establishments :-

  • Non Governmental Organizations
  • International Organizations
  • Embassies and Missions
  • Other reputable organizations

5. Safaricom Sacco

The Sacco has branches in Mombasa road and Safaricom Care Center.

Plans are underway to create other branches across the country since membership was opened to the public.

In order to be an eligible member you should have one of the following qualifications;

  • It is open to employees of Safaricom limited.
  • Spouses of employees of Safaricom.
  • The members who have come of retirement age or resigned continue indulging in the privileges of this Sacco subject to approval by the Management Committee.
  • Is an employee of the Safaricom SACCO Ltd or Other member accepted by the Management Committee and approved by the General Meeting.

6. Ekeza Sacco

Ekeza Sacco has an asset base of KSh20 billion and offers competitive loans and reasonable payment packages.

Members are admitted in relation to the Saccos membership policies.

There are 4 types of accounts available to members of this Sacco varying from;

  • Individual
  • Joint account
  • Chama/ Group and company account

The main objective of this Sacco is to provide members with opportunities to invest in assets such as land, houses and apartments.

7. Harambee Sacco

Harambee Sacco boasts a net asset value of KSh19.8 billion and

This Sacco focuses its membership on the following government institutions and parastatals;

  • National Government
  • County Governments
  • Government Parastatals – KWS, KFS, KIRDI, NEMA
  • Constitutional Bodies – IEBC, KHRC, KMC,
  • Government Departments
  • Kenya Defense Forces
  • National Police Service
  • National Youth Service

Harambee Sacco also opens its doors to the private sector with membership approval provided by the Board.

The best performing Saccos in Kenya help the common Kenyan make the most of his resources by providing a merry-go-round system bringing back figures three or four times of what was initially put by the member.

This concludes the list of best Saccos in Kenya. Ensure that you take time to select the Sacco that suites you most before investing in it.

Sit back and let these Saccos put your money into work and reap the harvest of your hard earned money.

8. United Nations Sacco Society

United Nations Sacco Society (UNSACCO) Limited is one of the Saccos in Nairobi it was started in 1975 with the objective of providing a mechanism for United Nations(UN) employees in Kenya to save and borrow at low cost in order to meet the employees’ socio-economic needs. The UNSACCO membership has grown from 131 members in 1975 to 4,047 in 2011. In the Same period, members’ deposits have grown from Ksh. 290,000 to Kshs 5 billion while the share capital is at Ksh. 150 million. The operations of the Sacco were initially done in one roomed office in Block G (UN complex) but the business is currently run in the UNSACCO block. The Sacco staff has also grown both in numbers and professional experience. The membership of the UNSACCO is open to all local and international

9. Afya Sacco Society Ltd

Afya Sacco Society Ltd was registered on 
8th May 1971 by some twenty founder members/promoters. Membership has grown progressively over the past

10. Chai Sacco

Chai Sacco was registered in the year 1973 to offer financial services to KTDA employees both at the factories and Head Office. In 1999, Front Office Service Activity (FOSA) was started and has evolved to a fully-fledged Deposit Taking Society with branches in Nairobi and Litein and a marketing office in Mombasa. The Society intends to open 7 more branches and 25 marketing offices countrywide.

11. Ufanisi Sacco Society Ltd

Ufanisi Sacco Society Ltd was registered on 6th July 1973 as a Savings & Credit Society for employees of Agricultural Finance Corporation. The Society has since opened its membership to the public.

For more information please visit: Sacco Society Ltd

12. Metropolitan Teachers Sacco Ltd

Metropolitan Teachers Sacco Ltd is to mobilize savings and offer productive and provident products and services at competitive cost within a changing business environment while upholding co-operative ideals”.

For more information please visit: Metropolitan Teachers Sacco Ltd

13. Kimisitu Sacco

Kimisitu Sacco was formed in March 1985 by a group of Staff from ICRAF. The society was formed mainly to promote thrift among its members by affording them an opportunity for accumulating their savings; and to thereby create a source of funds from which loans can be made to them exclusively for provident and productive purposes, at fair and reasonable rates of interest; thereby enabling them to use and control their money for their mutual benefit. The Sacco’s founder members were: Dennis Wambugu (Chairman), Jane Waweru (Secretary), Simon Kanani, James Wahome Charity Kanyeki and Fred Gitau.

14. Kenya Bankers sacco

Kenya Bankers Sacco was registered on 14th Feb 1975. The society’s core business is to mobilize savings from the members out of which credit is approved at affordable interest rates. Its members are drawn from banks, non-bank financial institutions, building societies and other money related institutions.We are SASRA compliant, with a total membership of 18,083 as at December, 2012.

For more information please visit: Kenya Bankers Sacco

15. Kenya Medical Association Sacco

Kenya Medical Association (KMA) is a voluntary membership organization open to all medical and dental practitioners registered in the Republic of Kenya. The Association currently has over 2,000 members countrywide. Because the SACCO is designed by medical doctors who understand the dynamics of the medical profession and the enormous demands of a doctor’s time, KMA Sacco is a ‘one stop financial partner’ for the medical practitioner, both young and old.

For more information please visit: Kenya Medical Association Sacco

ABOUT SASRA

What is SASRA and what is its role?

SASRA stands for the SACCO Societies Regulatory Authority. lt is an organisation started by the government to ensure safety of members’ deposits in SACCOs operating FOSA. SASRA licenses and supervises the SACCOs operating FOSA. Any Sacco intending to start a FOSA must be licensed by SASRA before operations.

Who has given SASRA authority to supervise deposit-taking (FOSA) SACCOS?

SASRA was started by the government in accordance with the new SACCO law (Sacco Societies Act, 2008) to license, regulate and supervise deposit-taking (FOSA) SACCOs.

When did the new SACCO law start?

The new SACCO law (Sacco Societies act 2008) was operationalized on 26th September 2009

Can SASRA stop a SACCO from failing?

SASRA’s responsibility is to try to prevent failure by ensuring SACCOs comply with standards set in the new law to ensure they remain in operation. This is done through carrying out inspection of the SACCO both from SASRA offices and at the SACCOs to see if there are signs of possiblefailure.

Which SACCOS should apply for licensing?

A: Any SACCO Societies with a FOSA or those planning to operate a FOSA have to apply for a license. A SACCO should obtain licenses for its head oifice and each oithe branches (FOSAs).

A SACCO license is valid for one calendar year ending 3lst December and is regardless of date of licensing. A licensed SACCO is required to apply for renewal of a license at least ninety (90) days before the expiry of a license which would be by end of September of each year.

What happens if a Sacco starts operating a FOSA without a license or does not renew its License(s)?

lf this happened SASRA would be forced to close the FOSA and charge the SAC(Os officers responsible as operating a FOSA without a license is an offence.

What happens to a Sacco that applies and does not meet licensing requirements?

Upon application for a license, SASRA shall advise each SACCO accordingly.

I have a complaint about my SACCO. Can SASRA help me?

Yes, SASRA can assist in matters pertaining to regulatory or criminal wrong doing by the Saccos or its board ofdirectorsand staff. lfyour complaint pertains to a regulatory or criminal matter, you can submit your complaint with our office. However, the new Sacco law has not addressed issues to do with individual share refund issues, member and SACCO contractual agreements, any legal issue that involves an individual member and his/her SACCO are can be guided by the Sacco by-laws.

How do I know whether my Sacco is licensed by SASRA?

All the licensed Saccos are gazzetted in the Kenya gazette in addition, SASRA publishes all licensed SACCO societies in the leading daily newspaper every beginning of the year. This list is also available in SASRA website, www.sasra.go.ke. Finally, licensing is
such an important legal issue that the Board of your SACCO will
always inform the members through the AGM or ADM.

Types of Registered SACCOS in Kenya

Saccos in Kenya – Diaspora Saccos in Kenya

To ensure they are felt back home, Kenyans in the diaspora have formed Saccos, through which they can invest in property and business.

Diaspora remittances are growing at a rate of 43 per cent year on year. The Diaspora Saccos intend to harness these individual small streams into a mighty river of collective power and channel them into investment projects, which can attract even higher remittances.

The Kenya USA Diaspora Sacco was launched during the 2012 Kenya Diaspora Conference — USA in Arlington, Virginia. This was the second Diaspora Sacco established after the Cooperative Development ministry registered Kenya Diaspora Sacco in April 2012.

The Sacco enables Kenyans living in the United States to access capital and fully participate in emerging markets in Kenya as Well as the opportunities in the East African Community.

The Sacco plans to launch a chapter in every state in the US to make sure every Kenyan living in the US has access to affordable credit.

Kenyans in the United Kingdom also launched a Sacco, which was the third diaspora society.

Youth Saccos in Kenya

With 73 per cent of Kenya’s population under the age of 30 and 43 per cent under the age of 15, the youth factor is an important social-political and economic factor.

The cooperative movement, therefore, has in the past tried to ensure that this populace is absorbed into the sector. The 2011 World Cooperatives Day, popularly referred to as Ushirika Day, celebrations intentionally focused on the youth, under the theme Youth, the Future of Cooperative Enterprise. There is consensus that the youth have not been keen to join the movement because they consider cooperatives as clubs for elderly people.

The Ministry of Cooperatives is working closely with the youths to ensure they provide whatever is close to their hearts.

As part of the efforts, the Cooperative Insurance Company (CIC) in partnership with the Ministry, is involved in promoting the cooperative model of enterprise to the youth, with university students a key target.

A campaign dubbed I’m a Co-operator seeks to impress upon young people the importance of cooperatives as a development tool that can effectively transform lives economically and socially.

Other ventures of interest include the introduction of boda boda businesses in which youths are encouraged to form groups through to buy motorbikes for the boda boda businesses.

Cooperative Bank is targeting the youth with special packages like investing in specific items for their groups, such as motorbikes, vehicles, computers and laptops.

Yet another area of exponential growth is the ICT sector Where

Matatu Saccos in Kenya

To bring sanity to public transport, matatu and bus operators had to organize themselves into cooperatives of companies for ease of management and enforcement of discipline.

It was mandatory for all those seeking a Transport Licensing Board (TLB) certification to be members of a Sacco or belong to a company. About 1,000 matatu Saccos and 400 companies have been registered.

Matatu operators, who constitute 80 per cent of the public transport system, are estimated to have an annual turnover of Kshs73 billion.

To its credit, the sector buys Kshs4 billion insurance premiums every year and remits Kshs1 billion taxes annually.

The Matatu Saccos have played a significant role in the growth of public transport and some have now become respected brands in the sector.

The Saccos proved to be the most viable way to manage large public transport fleets. They have also been pioneers in changing the image of public transport, which was dominated by rogue drivers and touts without regard for traffic rules.

With the expected phasing out of the 14-seater vans, cooperative societies are poised to play an even bigger role in supporting the government’s initiative.

Housing Saccos in Kenya

There are currently 440 housing cooperatives (248 active) under the umbrella of Nachu. With the development of the movement, it’s a guarantee that low income earners can access affordable and decent housing.

Cooperatives have also invested in commercial buildings countrywide.

The landscape of most urban centres is covered by cooperative owned buildings such as Harambee Plaza, Afya Centre, Hazina Towers, Kuscco Centre, Cooperative Bank House, Meru Mwalimu Plaza in Meru and Ndege Chai Plaza in Kericho.

Saccos in Kenya – Education Saccos

A quarter of the nearly Kshs200 billion goes towards financing education.

Indeed, cooperatives have provided successful models to encourage savings and access affordable credit to about 95 per cent of the 278,000 teachers employed by the TSC and an equal percentage in private learning institutions. The movement has also invested in training institutions, such as the Cooperative College of Kenya.

Various cooperative societies have directly invested in institutions of higher learning, including Bartek College (Baringo Teachers Sacco), and South Imenti Sacco. Teachers Saccos are instrumental in raising living standards for the members and providing seed money for teachers to start businesses in housing, transport, agriculture and trade.

Others:

NO.

NAME OF SOCIETY

POSTAL ADDRESS

1.

2NK SACCO SOCIETY LTD

P.O BOX 12196 – 10109, NYERI.

2.

AFYA SACCO SOCIETY LTD

P.O.BOX 11607 – 00400, NAIROBI.

3.

AGRO-CHEM SACCO SOCIETY LTD

P.O BOX 94 – 40107, MUHORONI.

4.

AINABKOI SACCO SOCIETY LTD

P.O. BOX 120 – 30101, AINABKOI

5.

ALL CHURCHES SACCO SOCIETY LTD

P.O BOX 6957 – 01000, THIKA.

6.

AIRPORTS SACCO SOCIETY LTD

P.O. BOX 19001 – 00501, NAIROBI

7.

AMICA SACCO SOCIETY LTD

P.O.BOX 816 – 10200, MURANG’A.

8.

ARDHI SACCO SOCIETY LTD

P.O. BOX 28782 – 00200, NAIROBI.

9.

ASILI SACCO SOCIETY LTD

P.O.BOX 49064 – 00100, NAIROBI.

10.

AZIMA SACCO SOCIETY LTD

P.O.BOX 1124 – 01000, THIKA.

11.

BANDARI SACCO SOCIETY LTD

P.O.BOX 95011 – 80104, MOMBASA.

12.

BARAKA SACCO SOCIETY LTD

P.O.BOX 1548 – 10101, KARATINA.

13.

BARATON UNIVERSITY SACCO SOCIETY LTD

P.O BOX 2500 – 30100, ELDORET.

14.

BIASHARA SACCO SOCIETY LTD

P.O.BOX 1895 – 10100, NYERI.

15.

BIASHARA TOSHA SACCO SOCIETY LTD

P.O BOX 189 – 60101, MANYATTA.

16.

BI-HIGH SACCO SOCIETY LTD

P.O.BOX 90 – 60500, MARSABIT.

17.

BINGWA SACCO SOCIETY LTD

P.O.BOX 434 – 10300, KERUGOYA.

18.

BORESHA SACCO SOCIETY LTD

P.O.BOX​​ 80​​ ​​ 20103,​​ ELDAMA​​ RAVINE.

19.

CAPITAL SACCO SOCIETY LTD

P.O BOX 1479 – 60200, MERU.

20.

CENTENARY SACCO SOCIETY LTD

P.O.BOX 1207 – 60200, MERU.

21.

CHAI SACCO SOCIETY LTD

P.O.BOX 278 – 00200, NAIROBI.

22.

CHUNA SACCO SOCIETY LTD

P.O.BOX 30197 – 00100, NAIROBI.

23.

COMOCO SACCO SOCIETY LTD

P.O. BOX 30135 – 00100, NAIROBI

24.

COSMOPOLITAN SACCO SOCIETY LTD

P.O.BOX 1931 – 20100, NAKURU.

25.

COUNTY SACCO SOCIETY LTD

P.O.BOX 21 – 60103, RUNYENJES.

26.

DAIMA SACCO SOCIETY LTD

P.O.BOX 2032 – 60100, EMBU.

27.

DHABITI SACCO SOCIETY LTD

P.O.BOX 353 – 60600, MAUA.

28.

DIMKES SACCO SOCIETY LTD

P.O.BOX 886 – 00900, KIAMBU.

29.

DUMISHA SACCO SOCIETY LTD

P.O BOX 84 – 20600, MARARAL.

30.

ECO-PILLAR SACCO SOCIETY LTD

P.O. BOX 48 – 30600, KAPENGURIA

31.

EGERTON SACCO SOCIETY LTD

P.O.BOX 178 – 20115, EGERTON.

32.

ELGON TEACHERS SACCO SOCIETY LTD

P.O BOX 27 – 50203, KAPSOKWONY.

33.

ELIMU SACCO SOCIETY LTD

P.O BOX 10073 – 00100, NAIROBI.

34.

ENEA SACCO SOCIETY LTD

P.O.BOX 1836 – 10101, KARATINA.

35.

FARIDI SACCO SOCIETY LTD

P.O. BOX 448 – 50400, BUSIA.

36.

FARIJI SACCO SOCIETY LTD

P.O.BOX 589 – 00216, GITHUNGURI.

37.

FORTUNE SACCO SOCIETY LTD

P.O.BOX 559 – 10300, KERUGOYA.

38.

FUNDILIMA SACCO SOCIETY LTD

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