Kenya’s SACCOs eye fintech alliances as digital transactions surge
Digital transactions have become more important for the sector, prompting discussion at 4th Annual Cooperative CEOs Roundtable in Nairobi
NAIROBI, February 24, 2026 — Leaders of Kenya’s Savings and Credit Cooperative Organisations [SACCOs] have identified collaboration with financial technology firms [fintechs] as a top strategic priority for 2026, signalling a decisive shift toward digital transformation across the sector.
SACCOs play a pivotal role in Kenya’s financial ecosystem, particularly in remote and rural communities where access to conventional banking services remains limited. Traditionally seen as competitors to commercial banks, SACCOs are increasingly embracing digital solutions to better serve their members.
Digital transactions within the sector rose by more than 14 percent in 2025, prompting renewed debate among industry leaders about the future direction of cooperative finance and the role of fintech partnerships.
The issue was central to discussions at the 4th Annual Cooperative CEOs Roundtable in Nairobi, where more than 100 SACCO chief executives convened to assess the evolving financial technology landscape.
According to local media reports, delegates underscored the need for SACCOs to modernise core banking systems, strengthen data-driven decision-making, and adopt interoperable digital platforms enabling members to access services seamlessly across multiple channels.
Participants agreed that collaboration with fintech companies should be a “top strategic priority for 2026” as the financial services landscape continues to evolve rapidly.
Vincent Marangu, Director of the Cooperatives Banking Division at Co-operative Bank of Kenya, emphasised the urgency of adaptation.
“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,” he said.
A roundtable session at the forum also saw SACCO leaders commit to deeper collaboration among cooperatives in areas including shared digital infrastructure, cybersecurity resilience, and talent development.
Representatives from Visa, Oracle and the Fintech Association of Kenya were reported to have attended the event, highlighting growing cross-sector engagement.
The SACCO sector continues to expand steadily. A recent SACCO Supervision Report indicated that membership reached approximately 7.39 million in 2024, representing year-on-year growth of around eight percent. Total assets also increased significantly, rising from Ksh 971 billion to Ksh1.13 trillion by late 2025.
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