HARAMBEE SACCO SOCIETY

What HARAMBEE SACCO SOCIETY does

Harambee DT SACCO Society Ltd is a member-owned cooperative society registered in Kenya under the Cooperative Societies Act (Registration No. CS/1916) and regulated by SASRA as a Deposit-Taking SACCO. Founded in 1969 at the Office of the President as a civil servant savings initiative and formally registered in 1970, the institution has grown to serve 78,644+ members across Kenya with a total asset base of KES 38.69 billion, member deposits of KES 26.23 billion, and loans to members exceeding KES 32 billion. It operates through six FOSA (Front Office Service Activity) branches in Nairobi (headquarters at Harambee Co-operative Plaza), Mombasa, Kisumu, Nakuru, Eldoret, and Nanyuki, supplemented by 400+ Harambee Pesa agency banking agents, a VISA-branded Saccolink ATM network, and a Postal Corporation of Kenya partnership for nationwide courier services.

The SACCO's core product architecture is organized around three pillars: BOSA (Back Office Savings Activities) covering member deposits and traditional loan products such as Karibu, Development, Emergency, School Fees, and Jisaidie top-up loans; FOSA (Front Office Savings Activities) providing transactional banking accounts, salary accounts, fixed deposits, junior (Toto) accounts, and salary advances; and a Mortgage Scheme offering home purchase (up to 90% LTV) and construction loans (up to 105% LTV) at 8-9% per annum with terms up to 25 years. The technology stack runs on Microsoft Navision for core financial management, with a proprietary M-Cash mobile banking platform accessible via USSD *357# and a mobile application, complemented by an Electronic Document Management System (EDMS) implemented in 2023 and a Share Capital Trading Platform (USSD *384*1#). Two wholly-owned subsidiaries — Harambee Insurance Agency (HIA, launched 2021) and Harambee Investment Cooperative Society (HICS, established 2014) — extend the offering into insurance distribution (motor, health, life, property, travel) and real estate/financial portfolio management respectively.

The revenue model is interest-driven, with primary income from loan interest (development loans at 13.8% p.a., mortgages at 8-9% p.a., mobile instant loans via M-Boosta), supplemented by 9% annual interest paid on member deposits, a 15% dividend on share capital (record declared 2024), insurance agency commissions through partnerships with five carriers (Sanlam, Heritage, ICEA Lion, GA Insurance, Jubilee), HICS investment returns (12% average annual on KES 600M AUM), and transaction/service fees. The go-to-market combines community-led cooperative membership (employer check-off arrangements via MOUs, direct online registration, group membership), sales-led business development executive outreach for Premier-tier acquisition, and digital self-service through the members portal and M-Cash platform. Customer segments span government employees (primary historical base), non-government employees (post-2021 open bond), retirees (Wafanisi), diaspora members, groups/CBOs/NGOs, corporate members, and high-net-worth Premier and Millionaires Club tiers. The institution declared a record 15% dividend in 2024 and targets KES 50 billion in assets under its Vision 2030 plan.

Name

HARAMBEE SACCO SOCIETY

Legal name

Harambee DT SACCO Society Ltd

Website

https://harambeesacco.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Harambee DT SACCO is a Kenyan cooperative society serving 78,644+ members with KES 38.69B in assets across savings, lending, mortgage, insurance, and investment products distributed through six branches, mobile banking, and 400+ agents.

Ownership category

akta.pro rank

Product category

Cooperative Banking (Deposit-Taking SACCO)

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institutions, Not Federally Chartered (6036), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

Keywords

• Cooperative banking
• Savings and loans
• Mortgage lending
• Microfinance services
• Mobile banking

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Loan Interest Income: Primary revenue stream from interest charged on BOSA loans (development loans, emergency loans, school fees loans, Jisaidie top-up loans) and FOSA loans (salary advances, mortgage loans). Interest rates vary by product: mortgage loans at 8-9% p.a., development loans at 13.8% p.a.
2. Member Deposits and Savings: Members maintain deposits that earn 9% annual interest. Minimum monthly deposits range from KES 1,000-5,000 depending on membership category. Deposits are used as collateral for loans.
3. Insurance Agency Commissions: Harambee Insurance Agency (HIA) earns commissions from insurance product sales including motor, health, life, property, and travel insurance through partnerships with Sanlam, Heritage, ICEA Lion, GA Insurance, and Jubilee
4. Investment Cooperative (HICS) Management Fees: HICS generates revenue from real estate investments, financial portfolio management, and business ventures. Average annual returns of 12% to members with KES 600M total assets under management
5. Transaction and Service Fees: Fees from ATM card services, bankers cheques (KES 200), M-Pesa services, dividend capitalization bonuses, and standing order facilities

Pricing tiers

Go-to-market motion3 records

Distribution channels10 records

Marketing channels8 records

Core offering

Harambee DT SACCO is a member-owned cooperative that provides savings deposits, consumer and mortgage loans, mobile banking, insurance agency services, and investment cooperative products to Kenyan civil servants, parastatal/NGO employees, retirees, diaspora, groups and corporate members. Its core suite encompasses BOSA member deposits and cooperative loans, FOSA transactional banking accounts and salary-backed advances, the Harambee Mortgage Scheme (Home Loan and Jenga Loan with up to 25-year terms), Harambee Insurance Agency products, and HICS investment cooperative offerings (real estate, financial portfolios, business ventures), distributed through 6 branches and digital channels including M-Cash mobile, agency banking, M-Pesa and VISA ATM cards.

Product overview

Harambee DT SACCO Society Ltd operates as a multi-channel financial cooperative offering a comprehensive suite of savings, lending, mortgage, insurance, and investment products. The core architecture is organized around three main service pillars: BOSA (Back Office Savings Activities) encompassing member deposits and traditional loans (Karibu Loan, Development Loan, Emergency Loan, School Fees Loan, Jisaidie Top-up Loans including Jisaidie 72, Inuka 84, Inuka 96), FOSA (Front Office Savings Activities) providing banking accounts (Savings, Salary, Fixed Deposit, Business, Junior/Toto, 52-Week Challenge, Holiday Savings) and advances (Shares Boost, Salary Advance, Salary-In-Advance, M-Boosta, M-Boosta Plus, Jisort Advance, Finje Chap Chap, YOLO), and a dedicated Mortgage Scheme (Harambee Home Loan and Harambee Jenga Loan) with repayment terms up to 25 years. Two strategic subsidiaries extend the core offering: Harambee Insurance Agency (motor, health, personal accident, domestic, travel, mortgage protection insurance) and Harambee Investment Cooperative Society (HICS) for real estate, financial portfolio, and business venture investments. Ancillary services include a Sink Fund insurance scheme, collateral-based lending, M-Cash mobile banking (USSD *357# and app), Harambee Pesa agency banking, Saccolink VISA ATM cards, internet banking via members portal, Money Transfer Services (Western Union, MoneyGram, Transfast), Share Capital Trading, Dividend Capitalization, Premier Membership tier, and the Harambee Millionaires Club for high-net-worth members. The institution is digitally served through 6 FOSA branches nationwide and multiple digital channels.

Differentiator

Problem solved

Functional benefit

Brands

• Harambee M-Cash: Mobile banking application and USSD service (*357#) for members to access accounts, loans, and transactions
• FOSA
• BOSA
• Harambee Insurance Agency
• HICS
• Harambee Pesa Agency
• Premier Membership
• Harambee Millionaires Club
• Saccolink

Products and services

• BOSA Member Deposits Back Office Savings account where members accumulate deposits that earn annual interest and serve as collateral/qualification for accessing loan products with a borrowing power of 3x to 4x deposits. For Harambee DT SACCO members.
• FOSA Savings Account Front Office transactional banking account auto-issued upon membership, enabling daily deposits, withdrawals, and bill payments via branches, ATM, mobile banking and agents. For Harambee DT SACCO members.
• Harambee Home Loan Mortgage for outright home purchase offering up to 90% LTV, 8% p.a. interest for terms ≤10 years and 9% p.a. for >10 years, repayment up to 25 years, maximum KES 8M in major cities and KES 3M elsewhere. For Harambee DT SACCO members.
• Harambee Jenga Loan Construction mortgage for home building or completion offering up to 105% LTV, 8% or 9% p.a. interest based on tenor, principal moratorium during construction, maximum KES 10.5M (Nairobi) and KES 6M (other towns). For Harambee DT SACCO members.
• Karibu Loan Entry-level development loan providing new SACCO members immediate credit access without the standard six-month savings waiting period. For Harambee DT SACCO members.
• Development Loan Medium to long-term BOSA loan at 13.8% p.a. for funding important investments or property purchases, available to members with established savings history. For Harambee DT SACCO members.
• Emergency Loan Short-term BOSA loan giving members quick access to funds for urgent financial needs. For Harambee DT SACCO members.
• School Fees Loan Short-term BOSA loan covering education expenses for members' dependents. For Harambee DT SACCO members.
• Jisaidie Top-up Loan BOSA loan providing up to 4x member savings as borrowing power to supplement existing loan facilities. For Harambee DT SACCO members.
• Inuka 84 Loan Extended-term BOSA loan with repayment terms of up to 84 months at competitive rates for substantial long-term financing needs. For Harambee DT SACCO members.
• Inuka 96 Loan Long-term BOSA loan with repayment terms of up to 96 months for members with significant long-term financing needs. For Harambee DT SACCO members.
• Shamba Loan Agricultural land financing loan covering up to 80% of land purchase costs, supporting member land acquisition for farming use. For Harambee DT SACCO members.
• Makao Poa Loan Home-related BOSA loan offered through partnerships with leading suppliers, enabling members to access housing materials and fittings. For Harambee DT SACCO members.
• BIMA Advance BOSA loan for financing insurance premium payments with flexible repayment terms. For Harambee DT SACCO members.
• FOSA Salary Account Banking solution tailored for salary earners, offering flexible access to funds through direct salary processing. For Harambee DT SACCO members.
• FEDHA Fixed Deposit Account Fixed deposit savings account where members lock funds for a specified period in exchange for attractive interest rates. For Harambee DT SACCO members.
• Toto Junior Account Savings account for children of SACCO members, cultivating financial discipline from an early age. For dependents of Harambee DT SACCO members.
• Harambee Business Account Specialized banking account for business owners and entrepreneurs who are members of the SACCO. For Harambee DT SACCO members.
• 52 Week Savings Challenge Structured savings program helping members achieve financial goals through disciplined weekly contributions over 52 weeks. For Harambee DT SACCO members.
• Holiday Savings Account Savings account for planning and organizing trips with a minimum operating balance requirement. For Harambee DT SACCO members.
• Salary Advance Medium-term FOSA financing solution for salary account holders, providing access to funds against salary income. For Harambee DT SACCO members.
• Salary-In-Advance Quick access to salary funds before payday for members facing urgent financial needs. For Harambee DT SACCO members.
• Jisort Advance FOSA salary advance for members whose salaries are processed through a FOSA salary account. For Harambee DT SACCO members.
• M-Boosta Loan Mobile-based instant loan providing Harambee SACCO members quick access to funds anytime, anywhere via the M-Cash mobile platform. For Harambee DT SACCO members.
• M-Boosta Plus Loan Enhanced mobile-based loan offering members quick access to higher loan amounts via the M-Cash mobile platform. For Harambee DT SACCO members.
• YOLO Loan Short-term mobile-originated loan accessible in a few taps through the M-Cash mobile platform. For Harambee DT SACCO members.
• Finje Chap Chap Rapid small loan product providing quick access to funds, processed through salary-based eligibility. For Harambee DT SACCO members.
• Shares Boost Advance Loan allowing members to boost share capital to increase their loan borrowing power even with limited existing savings. For Harambee DT SACCO members.
• Harambee Insurance Agency (HIA) Wholly-owned insurance subsidiary offering motor, health, personal accident, domestic package, travel and mortgage protection insurance through partnerships with Sanlam, Heritage, ICEA Lion, GA Insurance and Jubilee. Available to Harambee DT SACCO members and non-members.
• Harambee Investment Cooperative Society (HICS) Wholly-owned investment cooperative subsidiary providing members access to real estate investments, financial portfolio management and business ventures with projected 12% annual returns and exclusive discounts on Isuzu, Cummins, TVS, Kubota and Solis products with 90% asset financing. For Harambee DT SACCO members.

Quantifiable outcome

• 15% dividend on share capital declared in 2024 - record high
• +6 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• SanlamcoreOthers · 1 January 2021Insurance partner for Harambee Insurance Agency providing life assurance and general insurance products to members including motor, health, property, and travel coverage.
• Heritage InsurancecoreOthers · 1 January 2021Insurance partner providing general insurance products through Harambee Insurance Agency for member coverage needs.
• ICEA LioncoreOthers · 1 January 2021Insurance partner providing life and general insurance products with established market presence in Kenya for member protection.
• GA InsurancecoreOthers · 1 January 2021Insurance partner for Harambee Insurance Agency offering comprehensive coverage options for members.
• Jubilee InsurancecoreOthers · 1 January 2021Insurance partner providing health, life, and general insurance products through the Harambee Insurance Agency.
• Kenya Coach Industries (KCI)minorGTM or Marketing PartnerIsuzu vehicle partnership offering HICS members exclusive discounts up to KES 100,000 on Isuzu vehicles from single cabin pickups to 10-wheelers. 90% financing available through Harambee DT SACCO Asset Finance.
• Car & GeneralminorGTM or Marketing PartnerEquipment and machinery partnership providing HICS members exclusive discounts on Cummins Generators, TVS Motor Bikes, Kubota Tractors, and Piaggio Tuk Tuks. 90% asset financing available.
• Sichey AutomotiveminorGTM or Marketing PartnerSolis Tractors partnership offering HICS members 5% discount on tractors ranging from KES 1.2M to 9M (26HP-125HP models). 90% financing available.
• Co-operative Bank of KenyacoreTechnology or IntegrationStrategic banking partnership for Money Transfer Services (MTOs) including Western Union, MoneyGram, and Transfast. Enables international remittances and cash pick-up services at SACCO locations. Banking correspondent for fund transfers.
• Postal Corporation of KenyaminorChannel Partner/ Reseller/ DistributorEMS parcel services partnership enabling members to send parcels to the SACCO free-of-charge through 400 local postal outlets nationwide. Provides secure document delivery within same day or next day.
• KMRC (Kenya Mortgage Refinance Company)coreStrategic or Co-development PartnerWorld Bank-supported initiative providing long-term affordable funding for mortgage lending. Harambee DT SACCO is the largest SACCO shareholder with KES 25M investment. Enables affordable housing finance for members earning below KES 150,000.
• VISA InternationalcoreTechnology or IntegrationCard network partnership for Saccolink VISA-branded ATM cards accepted at all VISA ATMs and POS outlets worldwide for cash withdrawals, payments, and online transactions.

Scale indicators11 records

Recent moves13 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• Xx.com/harambeesacco45
• YouTubeyoutube.com/@harambeesaccosociety
• Facebookfacebook.com/harambee.sacco
• LinkedInlinkedin.com/company/harambee-sacco-dtb
• Instagraminstagram.com/harambeesacco_
• TikToktiktok.com/@harambeesacco

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HARAMBEE SACCO SOCIETY