47% Of Kenyans Will Invest In A Sacco, 28% In Money Markets

By Juma / Published March 21, 2023 | 8:27 am

KEY POINTS

In Kenya, the Saccos injected in excess of 30 billion shillings into the financial ecosystem during the month of March alone, due to dividend payout, and more saccos are lined up to declare dividends and interest rebates up to the end of April.

KEY TAKEAWAYS

Given an option of SACCO, Maoney Markets, Chama, and a Savings Bank Account, 47 percent of the respondents said they would invest in Saccos, 28 percent in money markets, 17 percent in a savings account, and 8 percent in a Chama.

47 percent of Kenyans will money say they will put it in a SACCO if given the option to invest. In a survey that attracted more than 1000 respondents, Kenyans say they have more confidence in putting their money in a SACCO than in other investment vehicles.

Those who went for the SACCO option mentioned the flexibility of contributions, increase in their savings over time, annual dividends, and access to affordable loans as the main reasons they would take their money and put it in a SACCO.

Related Content: Demystifying The Sacco Business In Kenya

Sacco businesses have gained popularity over the years around the country as an alternative form of financial institution. They have become vehicles that not only give people alternatives to invest in but access to affordable credit too.

Stima Sacco, Kenya’s fastest-growing sacco in asset base, for instance, approved the payment of a first and final dividend of 15 percent on share capital to its members for the financial year ending December 31, 2022.

SACCOs are the best vehicle for accessing credit for major investments and creating genuine wealth due to their affordable credit facilities, flexible lending terms, personalized approach to lending, and community-driven focus on financial empowerment and literacy.

Having a SACCO account in Kenya is essential as it provides members with affordable credit facilities, encourages a savings culture, provides convenient access to financial services, empowers members, and offers various benefits.

About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

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