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Sacco loans, deposits gap hits Sh76bn on increased borrowing

While saccos have been lending in excess of deposits for years, the gap between the loans and deposits has accelerated over the last two years.

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By  Charles Mwaniki

Business Reporter

Nation Media Group

Loans issued by savings and credit cooperative societies (saccos) continued to outpace members’ deposits in the year to December 2023, new sector data shows.

The data from the Sacco Societies Regulatory Authority (Sasra) indicates that gross outstanding loans exceeded deposits by Sh76.4 billion in 2023, up from a gap of Sh60 billion in 2022.

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