Co-operative Bank of Kenya took home a prestigious award during this year’s Ushirika Day commemoration.
Its NWDT Sacco Society led in the “Best Performing NDT (Large & Medium) Employer-Based Saccos” as Kenya joined the world in celebrating the 103rd International Cooperative Day aligning with the UN’s 2025 International Year of Cooperatives under the theme: “Cooperatives Build a Better World.”
The award recognizes the bank’s sacco for stellar performance in capitalization, deposit management, credit management, efficiency, governance, and technology adoption among Tier-2 employer-based Saccos with assets between Ksh 5-10 billion.
Gracing event in Nairobi, President William Ruto expressed the government’s support for cooperatives in the country.
“My administration remains firmly committed to uplifting the livelihoods of lower and middle income Kenyans through an empowered and efficient cooperative movement,” he said.
Ruto also mentioned the role of the agricultural sector in growing the cooperative movement in Kenya, citing value addition.
“We have placed deliberate focus on revitalizing key agricultural value chains by supporting the creation of new cooperatives where they are needed and strengthening existing ones to boost their effectiveness and productivity,” he stated.
A prospective new legislation
The President reaffirmed his administration’s commitment to revitalising Kenya’s cooperative sector through progressive legislation that aligns with the country’s development goals. He cited an upcoming key legislation targeted at transforming the sector by fostering accountability, inclusivity, and sustainability in its operations.
“One of the most significant milestones in this regard is the Cooperatives Bill No. 7 of 2024. This landmark piece of legislation, shaped by extensive public participation, is now before the Senate and will soon be presented for my assent,” he added.
The Head of State elaborated that the new law would usher in a new era for the cooperative sector anchored in strong governance, enhanced transparency, and improved service delivery.
Industry leadership
On his part, the Cabinet Secretary for Ministry of Cooperatives and MSMEs Wycliffe Oparanya emphasized the sector’s importance in alleviating poverty and improving various sectors of the economy.
“In Kenya, over 30,000 cooperatives positively impact agriculture, finance, housing, and health, advancing Vision 2030 and the UN SDGs. Cooperatives lift millions out of poverty-from Agricultural Based Co-operatives to SACCO members-demonstrating the power of collective action,” he remarked.
On the other hand, Co-operative Bank Group Managing Director Gideon Muriuki explained that the institution’s role in the cooperative movement goes beyond shareholding to include collective ownership and mutual benefit.
“As we celebrate the International Year of Cooperatives, we stand proud as living proof that cooperatives don’t just build a better world—they build lasting institutions that serve generations,” he said.
Cooperative Bank is Africa’s biggest cooperative bank, with an asset base of Ksh 774.1 billion and over 9 million account holders. It also has over 15 million members in its cooperative wing.
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