Co-op Bank Bags Top Award in Kenya’s Sacco Banking Sector
- Co-operative Bank of Kenya Non-Deposit Taking (NDT) Sacco earned top awards during the Ushirika Day 2025
- The co-operative sector celebrated the 103rd International Day of Co-operatives on July 12, 2025
- President William Ruto said his government is committed to uplifting Kenyans' lives through cooperative empowerment
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Wycliffe Musalia has over six years of experience in financial, business, technology, climate, and health reporting, providing deep insights into Kenyan and global economic trends. He currently works as a business editor at TUKO.co.ke.
Co-op Bank Kenya Sacco has emerged among the top co-operatives in the country during the 103rd International Day of Co-operatives, commonly known as Ushika.
Source: UGC
The Non-Deposit Taking (NDT) bagged the award as the "Best Performing (Large & Medium) Employer-Based Saccos".
Co-operative Bank Group Managing Director and CEO Dr. Gideon Muriuki said Co-operative Bank of Kenya represents the purest expression of cooperative principles in modern banking.
Muriuki noted that the award validates the bank's commitment to excellence in cooperative banking.
"As we celebrate the International Year of Cooperatives, we stand proud as living proof that cooperatives do not just build a better world—they build lasting institutions that serve generations," said Muriuki in a press statement seen by TUKO.co.ke.
Why Co-op Bank NDT Sacco ranks best performing
The Sacco was evaluated on criteria including capitalisation, deposit management, credit management, efficiency, governance, and technology adoption.
The CEO noted that the bank's impact extends beyond traditional banking through its Front Office Service Activity (FOSA) model, enabling over 15 million Sacco members to access banking services through 619 FOSA outlets.
Through its MCo-op Cash mobile wallet, the bank disburses an average of KSh 6.4 billion in loans via mobile phones monthly, with KSh 14 billion disbursed to MSMEs in 2024 alone.
The win comes as Kenya marked the 103rd International Cooperative Day, aligning with the UN's 2025 International Year of Cooperatives under the theme: "Cooperatives: Driving Inclusive and Sustainable Solutions for a Better World."
Co-op Bank NDT Sacco is ranked among Tier-2 employer-based Saccos with assets between KSh 5 to 10 billion.
What Ruto said about Sacco performance
In a speech presented on his behalf by Prime Cabinet Secretary (CS) Musalia Mudavadi, President William Ruto said his administration remains firmly committed to uplifting the livelihoods of lower- and middle-income Kenyans through an empowered and efficient cooperative movement.
"We have placed deliberate focus on revitalising key agricultural value chains by supporting the creation of new cooperatives where they are needed and strengthening existing ones to boost their effectiveness and productivity," said Ruto.
Cabinet Secretary for the Ministry of Cooperatives and MSMEs Development Wycliffe Ambetsa Oparanya revealed that over 30,000 cooperatives in Kenya positively impact agriculture, finance, housing, and health sectors.
"Cooperatives lift millions out of poverty, from agricultural-based co-operatives to SACCO members, demonstrating the power of collective action," said Oparanya.
Since its founding in 1963, the bank has grown from humble beginnings with KSh 255,000 in capital to become Africa's biggest cooperative bank, with an asset base of KSh 774.1 billion and over 9 million account holders.
The bank's 64.5% ownership by the over 15 million-member cooperative movement exemplifies the democratic ownership and shared prosperity that define the cooperative model.
Source: TUKO.co.ke
