SACCO Societies Regulatory Authority (SASRA) has today released the SACCO Supervision Annual Report, 2021 which highlights the operations and performance of SACCO industry during the year ended, December 2021.
During the year under review, the total deposits grew by 9.80% in 2021 to reach Kshs 564.89 billion from the sum of Kshs 514.46 billion recorded in 2020. The 176-Deposit Taking SACCOs had the largest proportion of the total deposits’ portfolio amounting to Kshs 474.25 billion and representing 83.95% of the industry’s total deposits. The 185-Non withdrawable Deposit Taking SACCOs therefore shared the remaining 16.05% of the total deposits’ portfolio even though they outnumber the DT Saccos.
On the credit front, the subsectors’ gross loans increased by 9.67% in 2021 to reach Kshs 608.75 billion from Kshs 555.05 billion reported in 2020. The 176-DT-SACCOs’ share of the gross loans issued by SACCOs amounted to Kshs 522.25 billion representing 85.79% of the gross loans issued. The 185-NWDT-SACCOs share of the gross loans amounted to Kshs 86.50 billion and representing 14.21% of the industry gross loans.
Notably, high retention of surplus led to increased industry capitalization during the year 2021 giving SACCOs the much-needed funding to invest back in the business. Total membership stood at 5.99million by end 2021 with majority (47 per cent) affiliated to 49-agriculture-based SACCOs followed closely by membership from 117-government-based SACCOs at 35 per cent.
The non-remittances by institutions to SACCOS remain a challenge at Ks.3.4Billion, a 32 per cent drop from the Ksh.5billion reported in 2020. While Public Universities and Tertiary Colleges account for 38 per cent of the total non-remitted, they also registered most drop of 56 per cent to end with Ks.1.29 Billion from 2.95 owed in 2020.