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Saccos outpace banks in loan disbursements for eight months
Interest rates on Sacco loans have remained relatively unchanged against the general rise in domestic interest rates as the cooperatives benefit from a lower funding base.
Savings and credit cooperatives (Saccos) issued more loans than commercial banks in the first eight months of this year, reflecting the choice of customers put off by high interest rates charged by the latter.
New data from the Central Bank of Kenya (CBK) shows that credit disbursed by Saccos rose by Sh46 billion between January and August this year to Sh749 billion from Sh703 billion, defying the drop in loans issued by commercial banks.
