Kenya feted for sacco exploits

Kenya has received a global award for promoting growth of co-operative societies, which last year welcomed a million new members.

During a virtually-held World Council of Credit Unions (Woccu) annual general meeting, delegates unanimously voted Kenya as an exceptional member that saw it receive the Member Growth Award.

The fete also saw federation of co-operative and credit societies in Kenya Kuscco Limited group managing director George Ototo returned as Woccu board member for a further two year term.

“Saccos sustain lives and livelihoods of over 14 million people in Kenya who have used the funds to pursue education as well as educate their children buy land, put up houses courtesy of sacco loans and this award is a true testament of the resilience of saccos,” he said.

Others recognised included South Korea through its National Credit Union Federation, which added one million members, being a 19.8 per cent increase to its current 6.1 million people.