The number of deposit-taking savings and credit cooperatives (DT-Saccos) in Kenya rose to 177 in 2024, an increase from 174 in 2023, according to new data from the Central Bank of Kenya (CBK). This growth is primarily due to non-withdrawable deposit-taking Saccos (NWDT-Saccos) transitioning to the DT-Sacco category to meet increasing demand for innovative financial services.

• The CBK reported that three NWDT-Saccos successfully transitioned to the DT-Sacco category during the year.
• The main reason for this transition is that members of NWDT-Saccos are increasingly seeking services, such as transactional accounts and digital channels, typically offered by DT-Saccos.
• Conversely, the number of non-deposit-taking Saccos declined from 183 in 2023 to 180 last year, largely because of this shift.