Leaders of Kenya’s co-operative financial sector have said they want to prioritise collaboration with fintech firms in 2026.
Savings and credit co-operative organisations (saccos) are the Kenyan equivalent of member-owned credit unions, and play an important role in Kenya’s financial landscape – particularly for businesses in remote and rural areas.
While saccos traditionally competed with conventional banks, in recent years, digital transactions have become increasingly important to them, rising by over 14% in 2025.
This has prompted a discussion among sacks about the direction of travel regarding fintech. At the 4th Annual Cooperative CEOs Roundtable in Nairobi, more than 100 Sacco chief executives met to discuss the financial technology landscape.
According to The Star, delegates explored the need for saccos to “modernise core banking systems, strengthen data-driven decision-making and adopt interoperable digital platforms that allow members to access services across multiple channels”.
Delegates agreed that collaboration with fintech companies should be a “top strategic priority for 2026” amid a shifting financial landscape.
Vincent Marangu, director of the Cooperatives Banking Division at the Co-operative Bank of Kenya, said: “The technology landscape is evolving at an unprecedented pace. For players in Kenya’s financial sector, constant environmental scanning is no longer optional – it is a leadership obligation.”
The Star also reported that a roundtable discussion at the forum saw sacco leaders commit to deeper collaboration between co-operatives around digital infrastructure, cybersecurity resilience, and talent development. Delegates from Visa, Oracle and the Fintech Association of Kenya were reportedly in attendance.
Saccos continue to grow in Kenya, with a recent Sacco Supervision Report stating that the sector had around 7.39 million members in 2024 – around 8% growth year-on-year. Total assets also reportedly rose from Sh971bn (£5.51m) in 2023 to Sh1.13tn (£6.4m) in late 2025.
