Co-operatives Principal Secretary Patrick Kilemi during the Kenya Union of Savings and Credit Co-operatives Ltd 50th anniversary celebrations in Nairobi. [File, Standard]
Improved rains and aggressive reforms in the coffee sector led to a drop in loans issued by Saccos in the housing sector last year.
The latest report from the Sacco regulator shows an increase in advances by Saccos to the agricultural sector as loans towards housing and land acquisition dropped.
Nevertheless, money advanced towards housing and land acquisition took the largest portion of Sacco loans in 2023 amounting to Sh124.2 billion according to the Societies Regulatory Authority (Sasra).
This amount represents 26.97 per cent of the total loans issued in the period.
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