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.

Standard Chartered Bank Kenya is reassuring markets of its financial stability after the Supreme Court’s decision to dismiss its appeal in a long-standing pension case. The ruling, which concludes a two-decade legal battle, requires the bank to meet obligations estimated at over KSh 7 billion.

• Most important fact or figure from the article: The bank is obligated to pay an estimated over KSh 7 billion due to the Supreme Court ruling.
• Key person or organization involved: Standard Chartered Bank Kenya.
• Notable detail that adds context: The decision confirms the Retirement Benefits Authority Tribunal in pension disputes and ends a two-decade legal battle, involving a KSh 1.1 billion refund and recalculation of benefits for 629 retirees.

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.