SACCOs (Savings and Credit Cooperative Societies) have yet to show any interest in listing at the Nairobi Securities Exchange(NSE). This is despite them controlling huge cash deposits and big balance sheets that are much larger than those owned by some listed low-tier banks and small to medium sized enterprises.
However, financial regulators are burning the midnight oil to ensure that SACCOs are onboarded at the bourse.
The proposed listing of SACCOs at the NSE, received a further push at a recent July 10th 2026 meeting. Key stakeholders from the National Government, County Governments, Sacco Societies Regulatory Authority, Co-operative Alliance of Kenya, SACCO Central and SACCOs as well as NSE officials met to review progress made. The objective was to discuss modalities of establishing a framework that will facilitate listing and trading of SACCO shares.
According to sources at the NSE, work is currently underway to develop the necessary trading infrastructure. Regulatory framework and guiding principles to ensure SACCO shares are traded while preserving the co-operative principles, members’ rights and interests.
The move is a significant milestone since the idea of listing SACCOs at the NSE first gained traction in November 2025.
Listing of SACCOs to benefit and grow wealth for members
Analysts maintain that if successfully implemented, listing of SACCOs has the potential to deepen Kenya’s capital markets by providing SACCOs with an alternative avenue for raising long-term capital, improving governance and transparency in their operations, enhancing liquidity for members and broadening investment opportunities within the co-operative sector.
While the implementation framework is still work-in progress, the continued engagement with all stakeholders’ signal that the project is steadily moving from concept towards execution.
Regulators have been toying with the idea of setting up a special SACCO share trading counter at the NSE so members can trade shares freely-even without full listing.
Meanwhile, digital marketplaces like SaccoShares and SACCO Hisa Market are being used as Over-the-Counter(OTC) platforms for buying/selling SACCO Share Capital.
Projects and talks between SACCO groups, the NSE and Capital Markets Authority are ongoing to create formal frameworks, “said Dedan Maina, an investment consultant at Ketu Capital.
Among initiatives already in place is SACCO Hisa market, a platform that allows buying and selling of Sacco shares online.
It operates in compliance with financial regulations and SACCO Society rules, providing a secure and transparent way to trade SACCO shares.
Key features include Bank-level security for transactions, real-time market prices for SACCO shares, easy portfolio management with order tracking, quick settlement of share sales and is regulated by SASRA for safety.
“There was a time when the NSE was really pushing to have listings from SACCOs but the matter somehow fizzled out. This listing will not affect members access to liquidity when you consider the category of member contributions that would be listed. But I would venture to say that listing of SACCOs will enhance transparency and liquidity in the sector,” said Eric Musau, Director of Research, Standard Investment Bank(SIB).
