SACCOs record impressive performance despite Covid 19 disruption

Lenin Lumumba

The Kwara Take

SACCOs recorded an increase in total assets in 2020 despite the challenges occasioned by the Covid-19 pandemic. In a story published by the Star Newspaper, the Cooperative Alliance of Kenya CEO, Daniel Marube said that SACCOs performed relatively well despite the economic slowdown last year.

Kwara wishes to laud this performance by the SACCOs. It is a confirmation of the resilience of the sector. We need to continue supporting SACCOs across the country so that we can grow and nature a productive and sustainable cooperative sector.

Marube further noted that the uptake and upgrade of ICT platforms has improved efficiency in the SACCO sector The SACCO’s total assets at the end of 2020 was Sh627.7 billion compared to Sh556.7 billion at the end of 2019. This is an increase of 12.7 percent.

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