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Which SACCOS in Kenya Can Speed Up Your Business Growth and How

August 9, 2018 | BY MOMBO | Views:

Until a few years back, the only way people could save their money and get some extra back was by making fixed deposits. However, banks were not (and still are not) very accessible to certain groups of people. Think about it, have you ever seen a beggar or even a poor person enter one? You probably have not, as guards would not even let them enter. So, how can someone improve their financial status if they can’t even open bank account!? This ultimately led to the creation of a new type of institution which is similar to banks, known as Savings and Credit Co-operatives (SACCOS). Basically, members open a savings account in which they save money every month or week. They set a target saving, such as Ksh10,000 in 6 months. When they reach their target, the bank triples or quadruples the money and gives it to them as a loan. This gives the person the ability to expand his or her business, and pay back the loan too from the profit made. The loan is temporary but the growth of the business is permanent. But we must be very careful, not all SACCOS are honest. Some have stolen the hard earned money of people and runoff, therefore everyone should be careful about whom they are trusting. If you want to know about the best SACCOS in Kenya that you can have faith on, here’s a list.

Top 10 SACCOS that you can trust:


First and foremost, the one we would recommend using is our very own Mombo SACCO. Our SACCO started in 2015 and is accessible to everyone in Kenya. We offer up to 5 times your savings for as long as 2 years. Our interest rate is 12% per year. In case of savings, we provide 6% interest per annum and it can be withdrawn twice a year. But, the main feature that separates us from the rest is that we are COMPLETELY digital. While others still function with paperwork, we believe in making things convenient by offering all our services via our Mombo app. No hassle of collecting membership or guarantor forms!

Wanandege SACCO

It was originally created by airlines employees. It triples the savings of the members and gives them a repayment period of 4 years at a monthly 1% interest rate.

Maisha Bora SACCO

Maisha Bora SACCO has been around since 1974 and it has all types of members as its open for all. They also offer up to triple of the member’s savings. Their usual interest rate is 1% per month but it is based on reducing balance method and the repayment payment can be up to 6 years.

K-Unity Sacco

It is open to all, even though members are strictly checked before their membership is confirmed. They offer loans up to quadruple of a member's savings at a 1% monthly reducing balance method, and a repayment period of 3 years.


Stima SACCO is one with a bigger outreach, as it has 5 branches. They provide loans up to double the member’s saving at 1% per month on reducing balance method. Repayment period can be up to 60 months.


Unaitasmight eventually turn into a bank. They offer loans up to triple the savings amount at 1 to 1.5% monthly interest rate on reducing balance method for up to 6 years.

Imarika SACCO

Even though it was originally focused in the coastal area, Imarika SACCO is now open to all across the whole country. They provide loans up to double the original amount with a repayment period of 60 months. The monthly interest rate is 1.25%.

Harambee SACCO

This is really good for starters as it gives loans up to triple the saved amount at 1% interest rate per month. Repayment period can be up to 2 years. Even though it is open for all, getting accepted is a bit tough.

Waumini SACCO

Since this was created by the Catholic church, members of the congregation are favoured. They lend up to triple the amount saved, at a yearly interest rate of 12.5% and a repayment time of 60 months.

Kenya Police SACCO

This particular SACCO has recently been made open for all. They lend up to triple the original amount and give 4 years of repayment time. Their yearly interest rate is 13.5% on reducing balance.

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