SACCO SUPERVISION ANNUAL REPORT, 2023

The Annual Statutory Report on the performance and operations of Regulated SACCOs in Kenya

View Detailed Analytics

Regulated SACCOs in the National Financial Sector Context

Regulated SACCOs had the lowest NPL ratio at 8.66% for DT-SACCOs and 7.12% for NWDT-SACCOs in 2023 compared to commercial banks' NPL ratio of 14.80%

Comparative Performance with Banking Sector

Parameter Year Total Assets (Kshs B) Gross Loans (Kshs B) NPL Ratio Customer Deposits (Kshs B) No. of Institutions
DT-SACCOs 2020 627.68 473.74 8.39% 430.11 175
2021 691.09 522.25 8.86% 474.25 176
2022 763.50 586.16 8.40% 522.59 176
2023 832.89 652.27 8.66% 575.19 174
NWDT-SACCOs 2020 106.54 80.28 NA 83.00 185
2021 116.02 86.50 9.78% 90.64 185
2022 126.80 94.19 7.99% 97.86 183
2023 139.06 106.30 7.12% 107.00 183
Commercial Banks 2020 5,405.75 2,914.02 14.50% 4,011.32 39
2021 6,022.15 3,255.43 14.13% 4,451.73 39
2022 6,589.82 3,630.25 13.86% 4,761.70 36
2023 7,690.70 4,183.50 15.58% 5,595.80 39

Share of Total Assets to GDP

The Regulated SACCOs' total assets to GDP was about 6.43% in 2023 (slight drop from 6.66% in 2022). DT-SACCOs segment was 5.51% of GDP while NWDT-SACCOs was 0.92%.

Year Nominal GDP (Kshs B) Banks (% of GDP) Microfinance (% of GDP) Insurance (% of GDP) Pensions (% of GDP) DT-SACCOs (% of GDP) NWDT-SACCOs (% of GDP)
2020 10,715.1 50.58% 0.70% 7.11% 13.06% 5.86% 0.99%
2021 12,098.2 49.78% 0.61% 6.99% 12.79% 5.71% 0.96%
2022 13,368.3 49.29% 0.53% 7.06% 11.79% 5.71% 0.95%
2023 15,108.80 50.90% 0.42% 7.00% 11.40% 5.51% 0.92%

Regulated SACCOs and Interest Rates

Regulated SACCOs paid higher returns than commercial banks: 7.45% interest on deposits and 10.92% dividends on shares in 2023, compared to banks' average savings rate of 3.84%

Segmental Interest and Dividend Rates

DT-SACCOs Dividends

10.79%

2023 (10.41% in 2022)

NWDT-SACCOs Dividends

11.06%

2023 (10.92% in 2022)

DT-SACCOs Deposit Interest

7.70%

2023 (7.11% in 2022)

NWDT-SACCOs Deposit Interest

7.20%

2023 (7.10% in 2022)