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Sacco accounts holding millions rise to 154,000
Central Bank of Kenya data show that bank accounts holding more than Sh500,000 increased 5.7 percent to 781,977 last year, representing 0.97 percent of the banking sector’s 80.68 million accounts.
The number of Sacco accounts with deposits of over Sh1 million grew by 10 percent to 154,000 last year amid incessant inequality that has seen a majority of savers maintain less than Sh50,000.
Data from the Sacco Societies Regulatory Authority (Sasra) shows the number of accounts in the high-value category rose from 140,000 in 2024, extending an increase from 98,000 in 2023 and 50,000 in 2019.
