“The Future of Saccos Is 25 Years Old.”
Ask any Savings and Credit Cooperative Society leader today, and the most pressing challenge they will name is the inability to attract young members. Membership sustainability, it turns out, hinges almost entirely on solving this one problem.
For decades, the cooperative movement — and Saccos in particular — has been dominated by older generations. Young people between the ages of 18 and 35 make up a third of Kenya’s population, yet represent only 14% of Sacco membership. That gap is not just a statistic; it is a warning.
Encouragingly, most Sacco leaders have begun to recognise that their long-term survival depends on how effectively they engage this demographic — one that brings the skills, energy, and innovation needed to carry the movement forward. The question is no longer whether to pursue the youth. It is how.
Technology
The most powerful entry point into youth engagement today is technology. It is where young people experiment, connect, and shape conversations around politics, culture, economy, and health. Saccos must be present in these spaces — not merely as observers, but as active contributors and relevant topics of discussion.
Enabling young people to talk about a Sacco’s brand, financial products, and services on digital platforms is one of the most cost-effective forms of brand positioning available. Beyond that, actively promoting youth-friendly channels — mobile apps, online banking, and digital savings options — signals that a Sacco understands and respects how the youth operate.
Marketing teams have a critical role to play here. They must blend the founding principles of the cooperative movement with the demands of contemporary technology, then communicate the resulting solutions on the platforms where young people spend their time. This means developing comprehensive digital marketing strategies that leverage SEO, blogs, and social media — driven by real-time research on trending interests and data-informed tactics that ensure the message lands.
Financial Literacy
Kenya’s Competency-Based Curriculum places strong emphasis on holistic education — one that fosters engagement, empowerment, and ethical citizenship while equipping learners with 21st-century skills. Saccos should see this as an open door.
Financial literacy and investment education must be introduced early and intentionally. Sacco voices need to be heard in Business Studies classrooms, where the values of lifelong saving, responsible borrowing, and sound investment decision-making can take root. When young people are exposed to personal finance management at an early stage, they develop the appreciation, trust, and loyalty that cooperative institutions depend on.
To cement that trust further, Saccos should lead in offering youth-tailored savings products, digital investment tools, and accessible online financial education modules — all designed with one goal in mind: youth financial freedom.
Purpose-Driven Engagement
Young consumers are driven by aspiration. They gravitate toward institutions and brands that reflect their values and support their vision for the future. Saccos must therefore align their objectives with the financial inclusion and social justice agenda that today’s youth champion.
Youth-friendly corporate social responsibility initiatives, skills development programmes, and environmental, social, and governance (ESG) commitments are no longer optional extras — they are powerful tools for attracting and retaining young members. Saccos that show up meaningfully in young people’s social spaces do more than recruit members; they build lifelong partnerships.
Ultimately, Saccos must recognise that their future cannot be separated from the role of youth within their leadership structures. This calls for a deliberate and structural evolution — one that brings young people into the decision-making process, not as tokens, but as genuine contributors.
Sacco policies should be reviewed to remove barriers that keep younger members from leadership roles. Boards can introduce mentorship programmes, establish youth advisory boards, or create formal youth representative positions. These steps ensure continuity of good leadership and guard against the institutional knowledge gaps that threaten long-term stability.
By embracing technology, investing in financial literacy, aligning with youth aspirations, and opening the doors of leadership, Saccos can secure both their membership and their legacy. The opportunities are there. The only question is whether the sector will move fast enough to seize them.
Authored by Newton Mihiu, Assistant Marketing Manager, Bingwa Sacco Ltd. Mihiu is a professional marketer with over 10 years of experience marketing Sacco products. He holds a Bachelor of Commerce in Marketing and a Diploma in Cooperative Management.
