Shofco Sacco won a total of six awards at the International Co-operative Day held at Safari Park Hotel in Nairobi.
The Ministry of Cooperative and MSME CS Wycliffe Oparanya presided over the award.
During the award, the CS emphasized the rolled cooperatives play in the Kenyan economy.
"We take cognizance of the role that cooperatives play in economic growth and social development of communities across the country. We celebrate the success," he said.
Shofco Sacco, which has over 20,000 members, was named Best Managed Non-Deposit Taking Community Sacco and the Most Improved Non-Deposit Taking Community Sacco.
The lender also emerged as position one in the Most Improved Non-Deposit Taking Community Sacco and Most Improved Countrywide categories.
“We are delighted to have achieved remarkable success by winning six awards during this year’s International Co-operative Day. We are proud of this collective achievement and look forward to continued success,” Shofco Sacco Chairman Dr. Kennedy Odede said.
The Sacco also scooped positions two and three in Best in Credit Management Non-Deposit Taking Community Sacco and Most Efficient Non-Deposit Taking Community Sacco categories respectively.
“Our membership has grown many-fold and we are glad that our Sacco is changing lives in informal settlements and rural communities across Kenya,” Odede stated.
The Sacco Chairman said the lender focuses on supporting people at the bottom of the economic pyramid which banks term as high risk.
“We are one of the largest and fast-growing Saccos in Kenya. We are banking those who don’t have jobs, boda boda riders, mama mbogas and all those at the bottom of the economic pyramid.
“These are people who are seen as high risk, but we see them as high opportunity and they have never let us down,” Dr. Odede said.
The Shofco boss also said the Sacco has grown from 10 members to over 20,000 members in the past seven years.
“Even with this membership, we are still below the icebag. This is because we have over two million Shofco Urban Network members across the country who are eligible to become Sacco members,” he said.
Other saccos awarded include Kenya National Police Sacco which emerged as Best Managed Sacco in the country. Temboi Sacco Limited took second place with Port Sacco taking third position.