Shofco Sacco wins 7 prestigious wards at 2025 Ushirika Day

The SACCO, which is affiliated with Shining Hope for Communities (SHOFCO), outperformed hundreds of other non-deposit-taking  SACCOs to take top positions in this year’s competition organised by the State Department for Cooperatives under the Ministry of Cooperatives and MSMEs Development.

The lender clinched position one in Best in Credit Management (non-DT community-based SACCO) category, position two in Best Performing Non-DT Community-based Sacco and number two in Best in Risk Management non-DT community-based SACCO categories.

The SACCO also scooped position two Most Improved Sacco, Best in Capitalization (2), Best in Technology Optimization (3), and best in Member Management (3) non-DT community-based SACCO.

The achievements were announced at the national Ushirika Day ceremony held at the Kenyatta International Convention Centre (KICC), under the theme “Cooperatives for a Sustainable Future”, celebrating innovation, accountability, and impact within the cooperative movement in Kenya.

Speaking after receiving the awards, SHOFCO SACCO Chairman Dr. Kennedy Odede, expressed pride and gratitude for the recognition.

“This moment is a powerful testament to the resilience, discipline, and vision of our members and leadership team.

 Shofco SACCO was built from the ground up to serve the grassroots, the people often left behind by traditional financial systems,” he said.

The Chairman stated that the Sacco's mission is to provide financial empowerment to underprivileged communities across Kenya.

“Winning seven awards nationally is not just a recognition of our systems, it’s a validation of our mission; that dignity and financial empowerment belong in every informal settlement and underserved community in Kenya,” he stated.

Dr. Odede said being community-based SACCO means there is high risk involved since most of its members are not employed, meaning most of them have no reliable stream of income that guarantee loan repayment.

“Credit management is at the heart of any successful SACCO. Being ranked No. 1 in that area is proof that our strategies anchored in trust, community accountability, and digital systems are working. We are banking unbankable. We’re not just managing money, we’re transforming lives,” Odede added.

General Manager Victor Owiti attributed the success to SHOFCO SACCO’s focus on innovation, transparency, and strategic growth, even amid the evolving challenges in the financial sector.

“Our members are the engine of everything we do. We’ve built systems that reflect their needs, their realities, and their aspirations. From improved risk controls to investing in member education and digital platforms, we’re moving forward with discipline and purpose,” said Owiti.

Founded as an extension of SHOFCO’s holistic approach to urban development, SHOFCO SACCO now boasts a growing membership drawn from marginalized urban communities across Nairobi, Mombasa, Kisumu, and other regions.

The SACCO offers savings, microloans, business development support, and financial literacy training to thousands of low-income earners, particularly women and youth.