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Deposit-taking saccos beat banks in the race for new deposits
Nation DT Sacco exhibition tents during the 103rd Ushirika Day celebrations at Kenyatta International Convention Centre (KICC), Nairobi on July 12, 2025.
Photo credit: Wilfred Nyangaresi | Nation Media Group
Members’ savings in deposit-taking (DT) saccos grew by 13.6 percent to Sh651.83 billion last year, defying the environment in which savings in commercial banks and microfinanciers dropped.
Latest data from the Central Bank of Kenya (CBK) shows the 176 DT saccos in the country, saw a combined rise in deposits from Sh573.64 billion they held in the previous year amid a tough economic environment that weakened many households’ ability to save.
