Top SACCOs in Kenya You Should Join in 2023

SACCO Investments and Savings.

Carson O.
7 Min Read
  • A SACCO is an abbreviation for Savings and Credit Cooperative organization.
  • SACCOs provide low-interest loans rates and high dividends
  • Dividends are usually issued as a percentage of the amount of money invested in the SACCO.

Are you looking for a good SACCO to invest your money instead of letting it lie idly in your bank account? This article will take you through some of the best SACCOs in Kenya, and give an expert analysis on advantages of SACCOs, their disadvantages and things to look at before choosing a SACCO to entrust your money.

What is a SACCO and why is it important?

A SACCO is an abbreviation for Savings and Credit Cooperative organization. From the abbreviation, a SACCO’s main purpose is to provide citizens with opportunities to save their money whilst reaping several benefits from the SACCO companies. Rarely are these benefits offered by banks.

Members usually join SACCOs voluntarily and pool their funds together and then proceed to borrow low interest loans. Of course, there are terms and conditions before being granted a loan in any SACCO in Kenya. More of this later on.

Why should you join a SACCO?

There are numerous reasons for joining a SACCO in Kenya. However, two reasons that we have listed below, stand out:

  • SACCOs provide low-interest loans rates and high dividends – One of the policies of SACCOs is providing low interest on any loan borrowed by a member of the SACCO. If you are looking for some cash to buy a piece of land or pay your son or daughter’s school fees, investing early enough in a SACCO may be the solution to your financial problems.
  • What is a dividend – A dividend is the money you receive from your SACCO out of the profits that the SACCO makes. Dividends may be given annually, biannually, or quarterly. Dividends are usually issued as a percentage of the amount of money invested in the SACCO. You can choose to withdraw or reinvest the dividends.
  • Interest on money invested – Just like any other financial institution, SACCOs pay their members an interest on the money invested. This interest is usually accrued from the businesses the SACCOs do to plough in profit. The logic here is similar to that of banks or money market funds.

Tips before joining a SACCO in Kenya

  1. Make sure they are registered by SASRA – This is the Sacco Societies Regulatory Authority that is a distinguished regulator of all SACCOs in Kenya. It was established under the SACCO Societies act of 2008.
  2. Assess the membership size and when how long the SACCO has been in business – the larger the size of the membership, the higher the chances of credibility. This is because it shows that many people trust the SACCO. The same goes for the length of time the SACCO has been in operation.
  3. Research about the various SACCOs through news, social media and people who work within the organizations, etc. Careful analysis will reveal scandals that have been hidden from the public eye. This will help you make an informed decision on whether to invest in the SACCO or look for another.
  4. Beware of ridiculously high returns – If a deal is too good to be true, you are probably being lured into a fraudulent scheme. Do your own due diligence before giving a SACCO your money.
  5. Ask yourself, what do you want to achieve? If you have a goal in mind, you will have an objective and this will help you organize your finances and invest wisely. For instance, if you are looking for a low-interest loan of say, Ksh.700,000, you may opt to invest Ksh.250,000 a year prior to your loan request. This will increase the chances of being granted that loan.

1.      Bandari SACCO

Year Started1975
Asset BaseKsh.10 billion
Minimum InvestmentKsh.10,500
Dividends<20% per annum

2.      Stima SACCO

Year Started1974
Asset BaseKsh.46 billion
Minimum InvestmentKsh.60,000
Dividends12%-14% per annum

3.      Kimisitu SACCO

Year Started1985
Asset BaseKsh.6 billion
Minimum InvestmentVariable
Dividends<8% per annum

4.      Nation SACCO

Year Started1975
Asset BaseN/A
Minimum InvestmentKsh.2,000
Dividends9% per annum

5.      Kenya Police SACCO

Year Started1972
Asset BaseKsh.39 billion
Minimum InvestmentVariable
Dividends10.5% per annum

6.      Hazina SACCO

Year Started1971
Asset BaseKsh.20 billion
Minimum InvestmentVariable
Dividends<8% per annum

7.      Safaricom SACCO

Year Started2001
Asset BaseKsh.46 billion +
Minimum InvestmentKsh.3,000
Dividends0.64% to 0.75%

8.      Sheria SACCO 

Year Started1972
Asset BaseKsh. billion
Minimum InvestmentVariable

9.      Mwalimu National

Year Started1974
Asset BaseKsh.46.2 billion
Minimum InvestmentVariable
Dividends7.5% +

10.  Harambee SACCO

Year Started1970
Asset BaseKsh.19.85 billion
Minimum InvestmentVariable


Above is a list of some of the popular SACCOs in Kenya. Do more research and invest in the wisely. In conclusion, SACCOs can be a tremendous investment option for those looking for a more secure and profitable way to grow their money. Whether you’re a member of the SACCO community or considering joining one, it’s crucial to understand how they work and how they can help you meet your financial objectives. By investing in a reputable SACCO and working with their expert team, you can take control of your finances and secure a brighter financial future for yourself and your loved ones.

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I am a multi-faceted professional with a strong foundation in Business and Finance, honed since 2020. Additionally, I possess a deep passion for automobiles, serving as an avid car enthusiast. In parallel to my diverse interests, I am also a dedicated student pursuing a career in the medical field.
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