- Kenya moves one place higher in the latest global ranking
- The country remains Africa’s only representative among the leading 15
- Kenyan Saccos continue to post strong assets, lending and membership figures
Kenya’s Savings and Credit Cooperatives (Saccos) have climbed to 13th globally and first in Africa, a new international report shows. Kenya stands alone as the continent’s only entry in the global top 15. It now shares a table with the United States, Canada and Japan.
The ranking draws on the 2024 Statistical Report of the World Council of Credit Unions (WOCCU), a body that represents national and regional credit union associations, Kenya’s included. It appears in the Sacco Supervision Annual Report, 2025, published by the Sacco Societies Regulatory Authority (SASRA).
Kenya moved up from 14th in the 2023 edition. SASRA Board Chairman CPA Jack Ranguma said the result reflects the continued strength, resilience, and competitiveness of the Kenyan cooperative movement.
The United States of America (USA) sits firmly at the top with assets of USD 2,330.40 billion. Its loans total USD 1,663.55 billion, and savings and shares stand at USD 1,979.16 billion. Membership reaches 143,662,741 across 4,549 credit unions.
Canada is second with USD 487.32 billion in assets, USD 426.60 billion in loans and USD 423.96 billion in savings and shares. Its 388 credit unions serve 11,321,984 members.
India takes third place with assets of USD 229.20 billion. Loans reach USD 106.34 billion, while savings and shares total USD 142.41 billion. Its 1,857 credit unions have 94,312,457 members. Japan, with USD 177.65 billion, and Brazil, with USD 129.96 billion, complete the top five.
Further down the table, Kenyan Saccos hold assets of USD 8.34 billion. Loans stand at USD 6.55 billion, while savings and shares total USD 5.81 billion. In all, 355 Saccos serve 7,385,423 members, an average of 20,804 members each.
Kenya sits just behind the Philippines in 12th place, which holds USD 9.11 billion in assets. At the same time, it edges past Costa Rica in 14th with USD 7.17 billion and El Salvador in 15th with USD 5.57 billion.
Lending offers a notable twist. Kenya’s loans exceed the Philippines’ USD 5.83 billion, and they equal about 79 per cent of the country’s Sacco assets.
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Membership tells an even stronger story. Kenya’s 7.39 million members outnumber those of Japan, Australia, South Korea, Thailand, Ecuador and Ireland. Yet all six of those countries rank higher on assets.
Kenya is the only African country in the top 15 global rankings. The other 14 countries come from the Americas, Asia, Europe and Oceania. It shows how far a regional movement can climb.
In Africa, Kenya ranks first on assets, loans and savings. Ethiopia, Ghana, Tanzania and Cameroon follow in that order.
The gap is stark. Kenya’s assets are almost seven times Ethiopia’s USD 1.21 billion who comes in second place. Ghana holds USD 0.58 billion, Tanzania USD 0.53 billion and Cameroon USD 0.51 billion.
Kenyan Saccos have loaned out USD 6.55 billion to their members. Tanzania, by contrast, has loaned out USD 0.43 billion, which means Kenya’s loan book is about 15 times larger. Ethiopia and Ghana trail even further behind, with USD 0.35 billion and USD 0.34 billion respectively.
Savings tell a similar story. Members of Kenyan Saccos hold USD 5.81 billion in savings and shares. Ethiopia, on the other hand, holds USD 0.85 billion, so Kenya’s pool is almost seven times bigger. Ghana follows with USD 0.46 billion, while Tanzania has USD 0.39 billion.
Across the 10 African countries listed, Kenya accounts for about 71 per cent of combined assets and 78 per cent of loans. Botswana, Eswatini and Malawi come next on assets with USD 0.21 billion, USD 0.16 billion and USD 0.06 billion respectively. Seychelles and Gambia complete the list with USD 0.05 billion each.
Ethiopia, however, leads on membership with 7,716,348 members against Kenya’s 7,385,423. Its members are spread across 22,850 societies, compared with Kenya’s 355. Size per Sacco explains the difference. Kenya averages 20,804 members per Sacco, while Ethiopia averages 338. Ghana records 4,515, Cameroon 3,012 and Tanzania 1,885.
Domestic figures show why Kenya keeps climbing. Total assets of regulated Saccos grew by 12.50 per cent in 2025 to Ksh 1.21 trillion, from Ksh 1.08 trillion. Membership rose to 7.87 million from 7.39 million.
Members’ deposits reached Ksh 832.74 billion, while gross loans and advances stood at Ksh 948.67 billion. By the end of 2025, 357 Saccos were regulated, made up of 179 deposit-taking Saccos and 178 non-withdrawable deposit-taking Saccos.
The sector now contributes 6.63 per cent of national nominal Gross Domestic Product (GDP). Meanwhile, 61 Tier 1 Saccos, those with assets above Ksh 5 billion, hold 77.62 per cent of industry assets.
By Benedict Aoya
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