Shofco Sacco wins seven Ushirika Day awards as membership tops 41,000

The community-based non-deposit taking (Non-DT) Sacco was recognised for governance, financial performance, member services and technology during the annual awards that honour outstanding cooperatives.

Its awards included Most Improved Community-Based Non-DT Sacco, Best in Capitalisation among Community/Business People-Based Non-DT Saccos, Second Best in Member Management, Second Best in Credit Management, Second Best Performing Community-Based Non-DT Sacco, Third Best in Technology Optimisation and Third Most Efficient Community-Based Non-DT Sacco.

The recognition comes after a year of growth for the Sacco, which reported an increase in lending, assets and membership.

According to the Sacco, its loan book rose by 23 per cent to KSh633.4 million in 2025, while total assets increased by 28 per cent to KSh848.6 million. Members' deposits grew by 55 per cent to KSh563.6 million, share capital reached KSh115.5 million and net surplus increased by 17 per cent to KSh25.88 million. Membership also surpassed 41,000.

Shofco Sacco Chairman Dr. Kennedy Odede said the institution was established to expand access to affordable financial services for low-income households in informal settlements and rural areas.

"Too many people have been locked out of mainstream financial services for generations," Odede said, adding that access to savings and affordable credit helps households and small businesses become more financially resilient.

He said the Sacco complements SHOFCO's wider community development programmes in education, healthcare, clean water and livelihoods.

Speaking during the Ushirika Day celebrations in Nairobi, Cabinet Secretary for Cooperatives and Micro, Small and Medium Enterprises Development Wycliffe Oparanya said cooperatives continue to play a key role in mobilising savings, expanding financial inclusion and supporting micro, small and medium-sized enterprises.

Deputy President Kithure Kindiki, who presided over the event, reiterated the government's commitment to reforms aimed at strengthening governance and accountability in the cooperative sector.

"The proposed legal reforms are intended to build stronger, more accountable cooperatives that safeguard members' investments while promoting sustainable growth," Kindiki said.