Shofco Sacco has emerged as one of Kenya’s fastest-rising community-based savings and credit cooperatives after winning seven awards during this year’s Ushirika Day celebrations.
The community-based non-deposit taking (Non-DT) Sacco was recognised for its strong performance in governance, financial growth, member services and innovation during the annual celebrations that honour outstanding cooperatives across the country.
SHOFCO Sacco received the following accolades: Most Improved Community-Based Non-DT Sacco, Best in Capitalisation among Community/Business People-Based Non-DT Saccos, Second Best in Member Management, Second Best in Credit Management, Second Best Performing Community-Based Non-DT Sacco, Third Best in Technology Optimisation and Third Most Efficient Community-Based Non-DT Sacco.
The awards cap a year of strong growth for the Sacco, which continues to expand its footprint among underserved communities through affordable savings and credit services.
The strong performance has enabled thousands of members, including women entrepreneurs, youth groups and informal traders, to access loans for business expansion, education, housing and other household needs.
Speaking after receiving the awards, the Sacco Chairman Dr. Kennedy Odede said the lender was established to bridge the financial exclusion gap affecting many families living in informal settlements and rural communities.
“Shofco Sacco was born from the belief that every hardworking Kenyan deserves access to safe savings and affordable credit regardless of where they live or how much they earn. Too many people have been locked out of mainstream financial services for generations,” Dr. Odede said.
He added that the Sacco complements SHOFCO’s broader community development model, which integrates financial inclusion with investments in education, healthcare, clean water, gender programmes and sustainable livelihoods.
“When families can save consistently and access affordable credit, they become more resilient. Businesses grow, children remain in school and households are better equipped to withstand economic shocks.
“That is why the Sacco is an important pillar of SHOFCO’s mission to build thriving and self-reliant communities,” Odede said.
The Sacco recorded robust growth in 2025, with its loan book rising 23% to KSh633.4 million and total assets increasing 28% to KSh848.6 million.
Members’ deposits surged 55% to KSh563.6 million, while share capital grew to KSh115.5 million.
The Sacco also posted a 17% increase in net surplus to KSh25.88 million, with membership surpassing 41,000 members.
Cabinet Secretary for Cooperatives and Micro, Small and Medium Enterprises Development Wycliffe Oparanya hailed cooperatives as engines of economic transformation, particularly for ordinary Kenyans and small enterprises.
“Saccos have become one of the most effective vehicles for mobilising domestic savings, expanding financial inclusion and supporting micro, small and medium enterprises. They empower communities by providing affordable credit while nurturing a culture of saving and investment,” Oparanya said.
On his part Deputy President Kithure Kindiki, who was the chief on Ushirika Day held in Nairobi, reaffirmed the government’s commitment to strengthening the cooperative sector through legal and policy reforms aimed at enhancing accountability and protecting members’ savings.
Kindiki said the proposed reforms to Sacco laws would modernise the regulatory framework, improve governance standards and enhance transparency across the sector.
“The proposed legal reforms are intended to build stronger, more accountable cooperatives that safeguard members’ investments while promoting sustainable growth. Our goal is to ensure every Sacco operates under sound governance principles that inspire confidence among members and investors,” Kindiki said.
