Are Kenyan commercial banks competing with SACCOS for the market share?

Faith Wangari

Advisor
SSF Points
38.00
KES
KSh.0.00
Not really, they have to exist symbiotically. SACCOs don't have access to Money services like processing cheques and the likes. Also, SACCOS do not have ATM services. So they depend on commercial banks for such services. What SACCOs need to do is to differentiate themselves as a product and work in partnership with banks since the cake is big enough for everyone.
 

John

New member
SSF Points
15.00
KES
KSh.0.00
The Cooperative Bank of Kenya has been helpful in getting SACCOS started. It is a success story in the history of helping SACCOs to realize their goals. I remember the Cooperative bank has been in the forefront of helping SACCOS to develop a Front office Service (FOSA). That is the strategic partnership that banks and SACCOS should enhance.
 

Violet Kev

New member
SSF Points
5.00
KES
KSh.0.00
My take, the big SACCOS should either merge or help the small SACCOS to catch up. If they come together, they will be able to achieve more and increase their share in the market.
 

Admin

Administrator
Staff member
And by the way, what happened to Urithi Co-operative SACCO? Were the members refunded their money? SACCOs seem to be having a fair share of problems just like the banks.
 
Top