Boost for Saccos as cabinet gives nod to inter-lending facility

Safaricom Business Chief Officer Cynthia Kropac, Ports Sacco Chief Information Officer Robea Karioki and Safaricom's Director, Customer obsession, Lucille Aveva during the 10th annual Sacco leaders convention in Mombasa on Feb 17, 2025. [Omondi Onyango, Standard]

More than 30,000 Savings and Credit Co-operative Societies (Saccos) in the country could soon launch an inter-lending facility, following the cabinet's recent approval of a framework for a multi-billion Central Liquidity Facility (CLF).

This long-awaited initiative aims to enhance access to emergency funds for Saccos. The CLF will serve as a shared services platform, improving member services and providing a safety net against financial risks. Sacco members view this development as a game-changer for Kenya's Sh1.5 trillion Sacco sector, as it promises to enhance operations significantly and positively influence the financial landscape.