Co-operative Bank of Kenya has emerged among the top winners at this year’s Ushirika Day celebrations. Bagging a prestigious performance award in recognition of its outstanding contribution to Kenya’s cooperative sector.
The award was presented to the bank’s NWDT Sacco Society. The bank was topped the “Best Performing NDT (Large & Medium) Employer-Based Saccos” category.
The recognition comes as Kenya joined the global community in marking the 103rd International Cooperative Day. Held under the United Nations’ theme for 2025: “Cooperatives Build a Better World.” The year 2025 has been designated by the UN as the International Year of Cooperatives. A milestone Kenya embraced by showcasing the power and progress of its robust cooperative movement.
Furthermore, Co-operative Bank’s award-winning Sacco was evaluated on its performance in key areas such: capitalization, deposit and credit management, operational efficiency, governance standards, and adoption of financial technologies. The NWDT Sacco, which falls within the Tier-2 bracket of employer-based saccos with assets between KSh 5–10 billion, stood out for its excellence across all metrics.
In his address during the celebrations held in Nairobi, President William Ruto underscored the vital role of cooperatives in driving inclusive growth. “My administration remains firmly committed to uplifting the livelihoods of lower- and middle-income Kenyans through an empowered and efficient cooperative movement,” he said.
The President also highlighted ongoing legislative reforms intended to strengthen the sector. He pointed to the Cooperatives Bill No. 7 of 2024, currently before the Senate, which he described as “a landmark piece of legislation” that will usher in a new era of accountability, inclusivity, and sustainability in the sector.
“One of the most significant milestones in this regard is the Cooperatives Bill No. 7 of 2024,” said Ruto. “Upon enactment, it will herald a new era for the cooperative sector—anchored in strong governance, enhanced transparency, and improved service delivery.”
Cabinet Secretary for Cooperatives and MSMEs Development, Dr. Wycliffe Ambetsa Oparanya, reaffirmed the government’s commitment to the sector. He noted that Kenya has over 30,000 registered cooperatives. Contribute significantly to agriculture, housing, healthcare, and financial services. “These cooperatives are lifting millions out of poverty and remain central to achieving Kenya’s Vision 2030 and the Sustainable Development Goals,” he said.
Founded in 1963 with an initial capital of just KSh 255,000, Co-operative Bank has grown to become Africa’s largest cooperative-owned bank. It’s has a total assets of KSh 774.1 billion and a customer base exceeding 9 million account holders. The bank is 64.5 percent owned by Kenya’s cooperative movement. Having over 15 million members nationwide.
Commenting on the award, Co-operative Bank Group CEO and Managing Director Dr. Gideon Muriuki said the recognition is a reflection of the bank’s deep-rooted cooperative identity. “Co-operative Bank of Kenya represents the purest expression of cooperative principles in modern banking,” he said. “Our ownership by the cooperative movement is not just a shareholding structure, it’s a testament to collective ownership and mutual benefit.”
Dr. Muriuki added that the bank’s performance is powered by a hybrid model that integrates modern banking with cooperative outreach. Through its extensive Front Office Service Activity (FOSA) network of 619 outlets. The bank enables financial access for millions in both urban and remote areas.
Additionally, the bank’s digital innovation has also been a game-changer. Its mobile wallet, MCo-op Cash, disburses an average of KSh 6.4 billion in loans monthly via mobile phones. In 2024 alone, Co-operative Bank disbursed KSh 14 billion in credit to micro, small and medium enterprises (MSMEs). Reinforcing its role as a lifeline for grassroots businesses.
As Kenya leads continental celebrations for the International Year of Cooperatives, Co-operative Bank’s continued dominance and recognition underline the transformative power of the cooperative model in creating wealth, enhancing financial inclusion, and building a resilient economy.