A Savings and Credit Cooperative Organization (SACCO) is a microfinance that promotes and enables people to save, invest and take loans. In a nutshell, it is a platform that enables likeminded people to come together and help each other in working towards their interests and goals. In Kenya, there currently exists so many SACCOS, all of which have different purposes and niches. Below are 10 of the best SACCOS to join in Kenya in 2020:
1. Safaricom Sacco
It is a Sacco that was born by Safaricom, a leading telecommunication company in East Africa. Its main branch is in Westlands, Nairobi, Kenya. The Sacco is mainly for people who work for Safaricom or the family members of the workers.
2. Mwalimu National Sacco
As the name suggests, the sacco is one for teachers in different parts of Kenya. It currently is among the best saccos in the country and has an asset value of over ksh. 30 billion.
3. Kenya Bankers Sacco
Established in the year 1975, this sacco is one for those people working in the banking industry in Kenya. It has broadened its niche to financial institutions as well as building blocks.
4. Stima Sacco
With branches in 6 different towns of Kenya such as Nairobi, Nakuru, Kisumu as well as Eldoret, this is currently one of the leading Saccos in Kenya. It was established in the year 1974 and has never stopped growing.
5. Kenya Medical Association Sacco
Established in the year 1998, the sacco has grown to be one that serves people in the medical world of Kenya be it nurses, doctors or medical consultants. It currently has an asset value of about ksh. 3.7 billion.
6. Waumini Sacco
The leading group that is part of this sacco is those in the Catholic diocese. The sacco has branches in different parts in Kenya and it specializes in providing the best information for persons as well as organizations to save, invest or take loans.
7. Harambee Sacco
It focuses mostly on the national government employees with those working either for the government or with the government. It currently has a net asset worth of about ksh. 20 billion.
8. Ekeza Sacco
The sacco has individual, joint, chama as well as company accounts for you to find the one that is suitable for you. Its asset value is about ksh. 20.1 billion.
9. Kenya Police Sacco
This is one for the police officers in Kenya. The sacco is meant to protect their interests as they go about serving this country. It currently has an asset value of over ksh. 30 billion.
10. Hazina Sacco
This is one of the oldest saccos in Kenya since it was founded 29 years ago. It allows a broad spectrum of the members of the public to be part of it.