Kenya’s SACCO sector has surpassed KSh 1 trillion in combined assets by the end of 2024, demonstrating significant growth. However, this success is tempered by a rise in non-performing loans and governance concerns highlighted by issues at the Kenya Union of Savings and Credit Cooperatives (Kusco).

• Total SACCO assets reached KSh 1.08 trillion in December 2024, tripling since 2016.
• Non-performing loans (NPLs) in SACCOs increased to 6.3% of gross loans.
• The Central Bank of Kenya (CBK) reported that regulated SACCOs were unable to access deposits from Kusco's Central Finance Facility due to panic withdrawals between October 2023 and January 2024.
• The CBK emphasizes the need for stronger oversight, with the upcoming Sacco Central aiming to provide liquidity and shared technology for stability.

After losing a Supreme Court case, Standard Chartered Kenya Limited has commenced the process of paying approximately Sh7 billion to over 600 former employees due to a pension miscalculation. The bank has initiated structured engagements to execute the judgment, assuring clients of its adequate capitalization to meet these obligations.

• Sh7 billion is the approximate amount Standard Chartered Kenya Limited is paying in pension dues.
• The Supreme Court of Kenya dismissed StanChart's appeal, upholding a Court of Appeal ruling.
• Deputy Chief Justice Philomena Mwilu ruled on the Supreme Court's dismissal, citing mere allegations of constitutional violations were insufficient.
• The case originated with the Retirement Benefits Authority (RBA) and went through the Retirement Benefits Tribunal, High Court, and Court of Appeal before reaching the Supreme Court.

I&M Bank has expanded its network by opening two new branches in Kapsabet, Nandi County, and Nyali, Mombasa County, bringing its total national footprint to 65 outlets across 24 counties.

• The Kapsabet branch will focus on the region's agricultural value chains, including tea, maize, and dairy farming, and small enterprises.
• I&M Bank Kenya’s Director of Retail Business Banking, Shameer Patel, stated the expansion is data-driven, targeting underserved yet high-potential markets.
• This recent expansion follows the opening of ten other outlets earlier this year in various locations across Kenya.