Remittances are now a key pillar of Kenya’s economy, surpassing traditional sectors like tourism. In 2023, US$ 4.19 billion in remittances flowed into the country, underscoring their role in economic stability and growth.


As remittances become vital for Kenya’s economic growth, this report by IFAD, Financial Sector Deepening Kenya (FSD Kenya) and The Sacco Societies Regulatory Authority (SASRA) sheds light on whether Kenyan SACCOs can play a larger role by offering remittance services directly. SACCOs are a lifeline for millions of Kenyans, offering financial services in remote areas. With 357 regulated SACCOs serving 6.8 million members, they are crucial for financial Inclusion.

Remittances are now a key pillar of Kenya’s economy, surpassing traditional sectors like tourism. In 2023, US$ 4.19 billion in remittances flowed into the country, underscoring their role in economic stability and growth.


As remittances become vital for Kenya’s economic growth, this report by IFAD, Financial Sector Deepening Kenya (FSD Kenya) and The Sacco Societies Regulatory Authority (SASRA) sheds light on whether Kenyan SACCOs can play a larger role by offering remittance services directly. SACCOs are a lifeline for millions of Kenyans, offering financial services in remote areas. With 357 regulated SACCOs serving 6.8 million members, they are crucial for financial Inclusion.