Vincent Marangu, Director of the Cooperatives Banking Division at Co-operative Bank of Kenya./HANDOUT
Kenya’s cooperative financial sector has signalled a major shift towards strategic partnerships with fintech firms as SACCOs accelerate digital transformation to better serve millions of members.
The new direction was outlined during the 4th Annual Cooperatives CEOs Roundtable held by the Co-operative Bank of Kenya.
The meeting brought together more than 100 SACCO chief executives in Nairobi. The forum was held under the theme “Transforming Cooperatives through Technology, Innovation, and Human Capital Readiness.”
Leaders at the meeting agreed that collaboration, rather than competition, with fintech companies will be a top strategic priority for 2026 as the sector responds to rapidly changing member expectations and advances in technology.
“The technology landscape is evolving at an unprecedented pace,” said Vincent Marangu, Director of the Cooperatives Banking Division at Co-operative Bank of Kenya.
“For players in Kenya’s financial sector, constant environmental scanning is no longer optional—it is a leadership obligation.”
Marangu noted that member needs are shifting, delivery channels are expanding, and traditional financial services models have been reshaped by specialised fintech players.
The two-day forum focused on technology-driven growth, innovation in member value, diaspora engagement, and human capital transformation.
It also drew participation from senior executives from Visa, Oracle and the Fintech Association of Kenya, who engaged SACCO leaders on trends reshaping the financial services sector.
Discussions highlighted the urgency for SACCOs to modernise core banking systems, strengthen data-driven decision-making and adopt interoperable digital platforms that allow members to access services seamlessly across multiple channels.
Leaders also explored how technology can unlock growth in youth engagement, MSME financing and cross-border services for the diaspora.
Recent sector data underscores the growing importance of digital investment. According to the latest SACCO Supervision Report, Kenya’s regulated SACCO sector had about 7.39 million members in 2024, representing nearly eight per cent year-on-year growth. Total assets rose from Sh972 billion in 2023 to Sh1.07 trillion in 2024 and climbed further to Sh1.13 trillion by late 2025.
Digital transactions processed through SACCO agent networks increased by more than 14 per cent to Sh31.65 billion, reflecting growing adoption of digital channels.
A key outcome of the roundtable was a shared commitment to deepen collaboration within the cooperative ecosystem. SACCO leaders agreed to accelerate joint efforts in shared digital infrastructure, cybersecurity resilience and talent development.
Emphasis was also placed on building future-ready human capital capable of leading digital change while safeguarding cooperative values such as trust, inclusion and member ownership.
“Our role as Co-operative Bank is to walk alongside SACCOs as a long-term strategic partner,” Marangu said.
“By investing in technology and people at the same time, we are collectively laying the foundation for a future-ready cooperative sector.”