Co-operative Bank of Kenya has been honoured for its leadership in cooperative banking, with its NWDT Sacco Society taking top spot in the “Best Performing NDT (Large & Medium) Employer-Based Saccos” category during this year’s Ushirika Day Celebrations.
The win comes as Kenya marked the 103rd International Cooperative Day aligning with the UN’s 2025 International Year of Cooperatives under the theme: “Cooperatives Build a Better World.”
The award recognizes the bank’s Sacco for excellence in capitalization, deposit management, credit management, efficiency, governance, and technology adoption among Tier-2 employer-based Saccos with assets between KSh 5-10 billion.
In his speech delivered during the celebrations in Nairobi, President William Ruto emphasised the transformative role of cooperatives in Kenya’s economic landscape saying; “My administration remains firmly committed to uplifting the livelihoods of lower- and middle-income Kenyans through an empowered and efficient cooperative movement.
“We have placed deliberate focus on revitalizing key agricultural value chains by supporting the creation of new cooperatives where they are needed and strengthening existing ones to boost their effectiveness and productivity.”
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The President also reaffirmed his administration’s commitment to revitalising Kenya’s cooperative sector through progressive legislation that aligns with the country’s development goals. He cited the Cooperatives Bill No. 7 of 2024 as a key reform poised to transform the sector by embedding accountability, inclusivity, and sustainability.
“One of the most significant milestones in this regard is the Cooperatives Bill No. 7 of 2024. This landmark piece of legislation, shaped by extensive public participation, is now before the Senate and will soon be presented for my assent. Upon enactment, it will herald a new era for the cooperative sector-anchored in strong governance, enhanced transparency, and improved service delivery.”
Cabinet Secretary for Ministry of Cooperatives and MSMEs Development Dr. Wycliffe Ambetsa Oparanya reinforced the sector’s importance, noting that “in Kenya, over 30,000 cooperatives positively impact agriculture, finance, housing, and health, advancing Vision 2030 and the UN SDGs.” He emphasized that cooperatives “lift millions out of poverty—from Agricultural Based Co-operatives to SACCO members—demonstrating the power of collective action.”
Since its founding in 1963, the bank has grown from humble beginnings with KSh 255,000 in capital to become Africa’s biggest cooperative bank, with an asset base of KSh 774.1 billion and over 9 million account holders.
The bank’s 64.5% ownership by the over 15 million-member cooperative movement exemplifies the democratic ownership and shared prosperity that define the cooperative model.
Co-operative Bank Group Managing Director and CEO Dr. Gideon Muriuki emphasised the bank’s unique position: “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.
“As we celebrate the International Year of Cooperatives, we stand proud as living proof that cooperatives don’t just build a better world—they build lasting institutions that serve generations.”
The performance award validates the bank’s commitment to excellence in cooperative banking. Evaluated on criteria including capitalization, deposit management, credit management, efficiency, governance, and technology adoption, the recognition places Co-operative Bank’s NWDT Sacco among the top performers in its category.
The bank’s impact extends beyond traditional banking through its Front Office Service Activity (FOSA) model, enabling over 15 million Sacco members to access banking services through 619 FOSA outlets including rural and remote areas. Through its MCo-op Cash mobile wallet, the bank disburses an average of KSh 6.4 billion in loans via mobile phones monthly, with KSh 14 billion disbursed to MSMEs in 2024 alone.
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