Kenya last week marked the International Co-operative Day with the country's total deposits held by the deposit-taking Saccos growing to Sh431.5 billion by the close of 2020 compared to Sh380.4 billion in the previous year - a 13.4 per cent increase. Cooperative Alliance of Kenya Executive Director Daniel Marube said this year’s celebration, dubbed Ushirika Day, was been based on the steps to full recovery from the ravages of Covid-19. He said cooperative societies restructured loans worth Sh7.7 billion in December 2020 compared to Sh2 billion in March 2020. He said total Sacco assets at the end of 2020 rose to Sh627.7 billion, compared to Sh556.7 billion at the end of 2019, a growth of 12.7 per cent. Gross loans hit Sh474.8 billion in December 2020, up from Sh419.6 billion in 2019, a growth of 13.2 per cent.

Source: Standard Digital July 06, 2021 08:48 UTC