The latest figures contained in the SACCO Annual Supervision Report 2021 show a noticeable decline in the rates of growth in the Deposit-Taking SACCOs sub-sector, in terms of balance sheet size, total deposits and gross loans.
The total assets of DT-SACCOs grew at 10.10% in 2021 compared to a growth rate of 12.75% recorded in 2020; while their total deposits grew by 9.92% in 2021 compared to a growth rate of 13.41% recorded in 2020.
The DT-SACCOs gross loans also grew at a slower pace than in 2021 recorded at 10.00% compared to a growth rate of 13.16% reported in 2020.
However, the report notes that the total capitalization of the DT-SACCOs segment increased from KSh 97.74 billion reported in 2020 to KSh 109.29 billion in 2021, while the key stability ratios of core capital to total assets increased to 15.81% in 2021 from 15.57% recorded in 2020 against the prescribed minimum of 10%.
“The slower growth rates witnessed in the performance of DT-SACCOs is evidence that the after-effects of COVID-19 pandemic are still being felt in the SACCO subsector and erratic weather patterns,” said Peter Njuguna, SASRA Chief Executive.
According to Njuguna, the after-effects of the COVID-19 pandemic slowed down the growth rates of the subsector in 2021 compared to 2020.
