Cooperative Bank of Kenya is listed among the World’s top largest cooperative societies, according to data from the 2022 World Cooperative Monitor Report
According to this 2022 report, titled Exploring the Cooperative Economy, Co-operative Bank of Kenya Limited is listed 44th among the top 300 largest cooperative and mutual organizations in the World in terms of turnover/GDP per capita pegged at 333,613.48 and in the category of those cooperative societies offering financial services. It is also listed 8th among the World’s top 10 cooperative institutions that offer non-cooperative financial services with a turnover of 250,301.57, a decline from the 2019 ranking of position 6.
The 2022 World Cooperative Monitor is the 11th edition produced by the, a project undertaken by the International Cooperative Alliance (ICA) with the scientific and technical support of the European Research Institute on Cooperative and Social Enterprises (Euricse).
This robust data for the cooperative movement – shows not only the economic importance of this business model but also the particular impact cooperatives and mutuals around the World have on their members and communities.
The World Cooperative Monitor raises awareness of the economic size and sustainability of cooperatives and mutuals around the World and allows cooperatives to gain insights into how their sectors are performing on a global scale.
This year’s report contains the annual rankings and sectoral analysis the movement has come to rely on, as well as a focus feature on digitalization and large cooperatives produced in collaboration with the International Cooperative Entrepreneurship Think Tank (ICETT). After the research on the impact of Covid-19 in the last two editions of the report, the team sought to investigate the changes the pandemic prompted in the use of digital tools, in particular as pertains to member engagement and the specificities of the cooperative identity, says an executive summary by Bruno Roelants Director General, ICA and Gianluca Salvatori Secretary General, Euricse
The World Cooperative Monitor (WCM) project is designed to collect robust economic, organizational, and social data about cooperatives worldwide. It is the only report of its kind collecting annual quantitative data on the global cooperative movement. The research and collaborations over the last ten years have provided the cooperative movement with a significant tool to evaluate its own positioning and have highlighted the importance of cooperation in the World to the general public and policy makers.
The WCM provides two different Top 300 and sectoral rankings: one based on turnover and the other based on the ratio of turnover over Gross Domestic Product (GDP) per capita
The turnover ratio over GDP per capita measures the turnover of the Top 300 cooperative and mutual enterprises in terms of the purchasing power of an economy, relating the enterprise’s turnover to the country’s wealth.
It allows us to compare the relative size of enterprises in considering different levels of national economic wealth. Still, it does not compute each enterprise’s contribution to the national GDP.
Instead, it measures the size of the enterprise in its national context.
The data collected for the 2022 edition of the World Cooperative Monitor is from the fiscal year 2020. The primary data sources include annual and sustainability reports, existing databases of economic data, data collected by national associations, research institutes, and other organizations, and the use of a questionnaire to collect data directly from enterprises.
The World’s top cooperative with a banking income/GDP of USD 1,099,795.90 is Groupe Credit Agricole of France.
See the full report by clicking the link
https://monitor.coop/sites/default/files/2022-11/WCM_2022.pdf
