Kenya’s Financial Inclusion Strategy: A Love Letter to SACCOs (If You Read Between the Lines)
When the Central Bank of Kenya and the National Treasury launched the National Financial Inclusion Strategy (NFIS) 2025–2028, it may have looked like just another policy document.
But for SACCOs, this one read less like a policy, and more like a carefully written nudge that says: “Dear SACCOs, we need you. And we need you to level up.”
The NFIS is Kenya’s first comprehensive, national blueprint for financial inclusion. It diagnoses what’s working, what isn’t, and what must change if financial services are to improve not just access, but actual financial wellbeing. And almost every diagnosis points, directly or indirectly, to SACCOs.
Let’s unpack what the six NFIS pillars are really saying, in plain language, and why they quietly present one of the biggest opportunities the SACCO sector has seen in years.
Pillar 1: Access; Or, “There’s No Branch Here, But There Is a SACCO”
The NFIS points out an uncomfortable truth: large parts of rural Kenya still lack meaningful access to financial services. Banks are thin on the ground, fintechs struggle with trust and coverage, and digital-only solutions don’t always work where connectivity is patchy.
Enter SACCOs, already embedded in these communities.
The strategy also wants to raise Kenya’s saving culture from 68% to 74%. That doesn’t happen through apps alone; it happens through institutions people trust with small, regular contributions.
The opportunity here is twofold: SACCOs can expand access digitally, while doubling down on what they do best, mobilising savings.
Where Ecostacs comes in: helping SACCOs rethink access strategies, design digital savings products, and align branch and digital expansion with national inclusion goals (without losing sleep over compliance).
Pillar 2: Usage; Or, “An Account That Sleeps Is Not Financial Inclusion”
Kenya has done well on access. Usage? Not so much.
The NFIS highlights high transaction costs, underused accounts, low insurance uptake, and limited product relevance. In short, many people have accounts they don’t really use.
For SACCOs, this is an open invitation to redesign products. Lower transaction costs through digitisation. Incentivise saving. Introduce bundled products. Partner with insurers. And yes, finally take remittances seriously.
Digital remittance usage remains low, despite billions flowing into the country annually. As explored in “SACCOs and Remittances: The Door Has Opened”, this is one of the most underutilised opportunities in the sector.
Ecostacs role: helping SACCOs redesign products, assess pricing, structure partnerships (insurance, remittances, fintechs), and build business cases that make usage, not just access, the goal.
Pillar 3: Consumer Protection; Or, “Trust Is Not a Policy, It’s a System”
SACCOs are trusted, but trust alone doesn’t resolve complaints, track grievances, or meet modern disclosure standards.
The NFIS emphasises stronger market conduct, consumer protection, and financial literacy. Translation? SACCOs must professionalise how they listen to members, respond to complaints, and communicate product terms.
CRM systems, complaint-handling frameworks, and structured literacy programs are no longer optional extras, they’re governance essentials.
Ecostacs’ role: supporting SACCOs to strengthen compliance frameworks, implement customer grievance systems, and design financial literacy programs that regulators actually like (and members actually understand).
Pillar 4: Green Finance; Or, “Climate Risk Is Also Credit Risk”
The NFIS is very clear: green finance is no longer a future conversation.
SACCOs are being invited into climate-smart lending, clean energy, sustainable housing, water solutions, and green MSMEs. The catch? Capacity is still limited, and product design matters.
This is a new lane, but one with growing demand and increasing policy support.
Ecostacs’ role: helping SACCOs build green finance capacity, design sustainable products, and integrate environmental risk into lending decisions without turning credit committees into climate scientists.
Pillar 5: Agriculture Finance; Or, “Farmers Don’t Repay Loans Monthly Because Cows Don’t Get Salaries”
The NFIS targets an increase in agri-finance access from 43% to 60%. That won’t happen using standard loan products.
Agriculture needs patience, seasonality, post-loan support, and insurance. SACCOs already understand farmers, they just need products that reflect farming realities.
Ecostacs’ role: supporting SACCOs to redesign agri-loans, align repayment schedules to harvest cycles, integrate agri-insurance, and strengthen monitoring so agriculture becomes sustainable, not stressful.
Pillar 6: Inclusion; Or, “One Size Fits No One”
Women, youth, PWDs, MSMEs, informal workers and displaced persons remain underserved, not because they don’t want financial services, but because products aren’t designed with them in mind.
The NFIS calls for targeted inclusion, better data disaggregation, and intentional product design.
SACCOs, by their nature, are best placed to respond, if they invest in data, research, and inclusive thinking.
Ecostacs’ role: conducting member surveys, designing inclusive products, improving data analytics, and aligning SACCO reporting with national inclusion targets.
The Bottom Line: NFIS Is Not a Policy Burden; It’s a Strategic Opportunity
The NFIS 2025–2028 is not asking SACCOs to do more paperwork.
It’s inviting them to do what they already do; better, smarter, and at scale.
SACCOs that align early will attract partnerships, earn regulatory confidence, grow sustainably, and remain relevant in a fast-changing financial system.
Ecostacs Consulting exists to help SACCOs make that transition, translating national policy into practical strategy, operational readiness, and real member impact.
The strategy has been written.
The opportunity is clear.
The only question is whether SACCOs will read between the lines and act.
