Shofco Sacco has recorded strong financial growth in 2025 as demand for affordable credit surged among small businesses and households in underserved communities.
The cooperative’s loan book grew 23 per cent to Sh633.4 million, reflecting rising uptake of member loans used to expand businesses, finance education and stabilize household incomes.
The growth in lending supported an overall rise in the Sacco’s profitability, assets, deposits, and share capital, signaling stronger confidence among members and expanding financial inclusion initiatives spearheaded by the cooperative. Shofco Sacco is part of the broader Shofco ecosystem, which supports community-driven economic empowerment across Kenya.
The Sacco posted a net surplus of Sh25.88 million in 2025, up from Sh22.11 million in 2024, an increase of about 17 per cent.
Total revenue rose to Sh107.69 million, up from Sh99.35 million in the previous year, largely driven by higher interest income from member loans.
Shofco Sacco chairman Dr. Kennedy Odede attributed the growth to stronger credit demand and the Sacco’s strategic expansion into new markets.
“Across our communities, we see members using affordable credit to grow their businesses, keep their children in school, and bring more stability to their homes. That is what happens when a community comes together and builds something for itself,” Dr. Odede said during the Sacco’s 9th Annual Delegates Meeting (ADM) in Kibera on Friday.
He added that the Sacco remains committed to expanding access to financial services in underserved communities.
“For us, growth is not just about numbers. It is about making sure that every member of our community, especially those who have been excluded for too long, has access to the opportunities that help them dream big,” Odede said.
The Sacco’s total assets increased by 28 per cent to Sh848.6 million in 2025, compared to Sh662.8 million in 2024, strengthening its balance sheet and financial stability.
Members are using loans to expand small retail businesses, take their children to school, build homes, and pursue agricultural ventures.
Members’ deposits grew significantly, rising from Sh362.8 million in 2024 to Sh563.6 million in 2025, representing an impressive 55 per cent growth.
Shofco Sacco General Manager Victor Owiti said the deposit growth reflects growing trust among members and the Sacco’s outreach efforts across communities.
“The growth in deposits is a clear indicator that members view Shofco Sacco as a reliable financial partner.
“Our focus on member education, accessible services and innovative financial products has encouraged a strong culture of saving,” Owiti said.
He added that the Sacco has invested heavily in strengthening its lending processes and digital platforms to meet rising demand for credit.
“Increased loan uptake has been supported by improved credit appraisal systems, better risk management and the introduction of flexible products that respond to the financial realities of our members,” Owiti noted.
Share capital also recorded strong growth, rising to Sh115.5 million in 2025 from Sh74.19 million in 2024, representing a 55.7 per cent increase.
The increase in share capital demonstrates growing ownership among members and strengthens the Sacco’s core capital base, which is critical for long-term sustainability and regulatory compliance.
Shofco Sacco increased its membership to more than 41,000 members, driven by aggressive recruitment campaigns and the opening of new branches in areas such as Kakamega and Eastlands.
These branches have recorded strong savings and uptake of credit products, reinforcing the Sacco’s strategy of bringing financial services closer to underserved communities.
Nairobi County’s Chief Officer for Cooperatives, George Mutiso,who was the chief guest during the ADM, praised the Sacco’s growth and its role in empowering grassroots entrepreneurs.
“Shofco Sacco is a powerful example of how cooperative societies can transform communities by expanding access to affordable finance,” Mutiso said.
He noted that Sacco’s growing loan portfolio indicates increasing economic activity among members.
“When members access credit to invest in businesses, education and livelihoods, they stimulate economic growth at the community level. This is exactly the kind of inclusive development that cooperatives were created to achieve,” he added.
With membership now exceeding 41,000, the Sacco plans to continue expanding its branch network and digital services as demand for affordable credit grows across Kenya’s underserved communities.
