Co-operative Bank of Kenya’s employer-based savings and credit unit, NWDT Sacco Society, has emerged as the best performing non-withdrawable deposit-taking (NDT) SACCO in the medium and large tier during Kenya’s 2025 Ushirika Day celebrations. The recognition affirms the SACCO’s robust growth and governance framework at a time when cooperatives are being positioned as critical engines of inclusive economic development.
The award, presented during the 103rd International Day of Cooperatives, evaluated employer-based SACCOs with asset sizes ranging between KSh 5 billion and KSh 10 billion. NWDT Sacco was recognized for its outstanding performance across key operational and strategic pillars: capital adequacy, deposit mobilization, credit management, governance, efficiency, and adoption of modern financial technologies.
This year’s event took on added significance, aligning with the United Nations’ declaration of 2025 as the International Year of Cooperatives. Kenya used the platform to reaffirm the role of cooperatives as central pillars in the realization of Vision 2030, as well as Sustainable Development Goals (SDGs), particularly those focused on poverty eradication, financial inclusion, and rural development.
A Beacon of Cooperative Banking
The success of NWDT Sacco underscores the strength and enduring relevance of its parent institution, Co-operative Bank of Kenya, which itself was founded by the cooperative movement in 1963. With over 9 million account holders and KSh 774.1 billion in total assets, the bank has evolved into the largest cooperative-owned financial institution in Africa.
“Co-operative Bank of Kenya represents the purest expression of cooperative principles in modern banking. Our ownership by the cooperative movement is not just a shareholding structure, it’s a testament to collective ownership and mutual benefit,” said Dr. Gideon Muriuki, Group Managing Director and CEO of Co-op Bank.
The bank’s expansive reach has been fueled by its 619 Front Office Service Activity (FOSA) outlets embedded within SACCOs, as well as over 15,000 agency banking locations across Kenya and South Sudan. These channels offer critical access to banking services in rural and underserved communities, enabling SACCO members and MSMEs to access credit, savings, and insurance products with ease.
In 2024 alone, KSh 14 billion was disbursed to micro, small and medium enterprises (MSMEs) via the MCo-op Cash mobile platform, highlighting the transformative power of digital financial services in democratizing credit access.
Legislative Tailwinds for Cooperative Reforms
The recognition of NWDT Sacco comes amid growing national efforts to strengthen the cooperative sector’s legal and policy framework. The pending Cooperatives Bill No. 7 of 2024, currently under parliamentary review, is expected to introduce sweeping reforms across the cooperative landscape. These include stricter compliance, governance, transparency, and auditing standards, all aimed at safeguarding member deposits and ensuring the sustainability of cooperative institutions.
Cabinet Secretary for Cooperatives, Wycliffe Oparanya, emphasized the scale and impact of Kenya’s cooperative economy:
“In Kenya, over 30,000 cooperatives positively impact agriculture, finance, housing, and health, advancing Vision 2030 and the UN SDGs and lifting millions out of poverty. From Agricultural-Based Co-operatives to SACCO members, the sector demonstrates the power of collective action.”
Kenya’s SACCOs hold a combined membership base exceeding 15 million, with the Co-operative Bank Group alone boasting a 64.5% shareholding held collectively by members of the movement.
Outlook and Sector Significance
As global economic uncertainty challenges conventional banking models, Kenya’s cooperative sector is proving resilient, offering localized financial solutions rooted in community ownership and mutual benefit. The emergence of NWDT Sacco as a top-tier performer reflects the success of employer-based models in integrating financial wellness into organizational culture.
With digital transformation, legislative backing, and continued support from institutions like Co-op Bank, SACCOs are poised to play an even greater role in mobilizing savings, enhancing financial literacy, and expanding productive lending — especially for youth, women, and the informal sector.
