The Annual Statutory Report on the performance and operations of Regulated SACCOs in Kenya
View Detailed AnalyticsThe SACCO Supervision Annual Report is a statutory publication of the Authority prepared and published on an annual basis in fulfilment and compliance with the requirements of Section 22(2) of the Sacco Societies Act cap 490B which provides inter alia that "the Authority shall prepare and submit to the Cabinet Secretary, a report on the operations and performance of SACCO Societies to which the Act applies within four (4) months after the close of the government's financial year".
As at December 2023
During 2023
As at December 2023
At the beginning of the year, there were 176-DT-SACCOs licensed by the Authority to undertake deposit-taking SACCO business. However, in the course of the year, two (2) DT-SACCOs namely M/S Jacaranda SACCO Society Ltd and M/S Kenya Midlands SACCO Society Ltd failed to maintain the minimum requirements for licensing, resulting into revocation of their deposit-taking licenses, leaving 174 DT- SACCOs with valid licenses as at 31st December, 2023.
9.17% growth from 2022
9.95% growth from 2022
11.50% growth from 2022
6.57% growth from 2022
The market share analysis of Regulated SACCOs total assets shows continued concentration of total assets and total deposits of Regulated SACCOs in just but a few of them. The large-tiered Regulated SACCOs with assets above Kshs 5 billion increased from 47-Regulated SACCOs in 2022 to 53-Regulated SACCOs in 2023, while their proportionate total assets market share increased from 70.05% in 2022 to 73.34% in 2023.
7.14% growth from 2022
35.77% growth from 2022
(Regulatory minimum: 10%)
(Regulatory minimum: 8%)
of total loan portfolio
8.34% in 2022
8.40% in 2022
7.99% in 2022
Non-remitted funds remain a major contributor towards NPLs, with Kshs 2.57 billion owed by various employer institutions to Regulated SACCOs in 2023.