INTELLIGENT TECHNOLOGY
INTELLIGENT TECHNOLOGY
KENYA’ S SACCO SECTOR ADVANCES DIGITAL ACCESS ENABLED BY EFT CORPORATION
EFT Corporation, an African payment solutions provider supporting over 100 million end-users and processing more than US $ 33 billion in transactions annually, has announced its partnership with a number of Kenya’ s leading SACCOs( Savings and Credit Cooperative Organisations) to co-create a shared digital payments platform. The announcement was made at the EFT Connect: Kenya event, held in Nairobi, where regulators, SACCO leaders and FinTech enablers gathered to explore the future of co-operative financial infrastructure.
While SACCOs have made strong strides in adopting digital tools, many have not yet been licensed as PSPs or integrated into Kenya’ s National Payment System( NPS). As a result, they haven’ t had the opportunity to issue cards, process transactions directly or scale digital services without relying on bank intermediaries.
“ This initiative is about enabling SACCOs to take ownership of their digital future,” said Catherine Korsten, Chief Commercial Officer at EFT Corporation.“ By co-creating the platform with the sector, we’ re building the infrastructure SACCOs need to scale sustainably – on their terms.”
Many SACCOs have already embraced real-time payment capabilities through platforms like Mobile Money, Bank ATMs and FinTechs. However, these often rely on third-party integrations, which can introduce added complexity, cost and operational challenges. A shared digital infrastructure would streamline these connections, reduce reliance on external providers and unlock greater efficiency and autonomy for SACCOs.
While SACCOs have shown strong intent to scale their digital services, many are still working toward the infrastructure needed to do so independently and efficiently. Fragmented interoperability and reliance on external providers continue to pose challenges, reinforcing the need for a shared platform that supports growth and long-term competitiveness.
These responses reflect a sector that is digitally active and eager to evolve – highlighting the growing need for a shared platform that reduces duplication, cuts costs and brings SACCOs into direct participation with national systems.
The proposed platform will provide real-time interoperability for transactions and enable SACCOs to connect directly to the NPS. It will also support shared agency banking, streamlined onboarding and more efficient clearing and reconciliation processes.
In addition, the platform will introduce flexible, SACCO-specific tools such as multi-wallet structures and automated settlement mechanisms, designed to scale with each institution’ s needs.
This initiative is not intended to replace existing systems, but rather to serve as a foundational infrastructure layer that enhances current capabilities and enables SACCOs to innovate more independently. It reflects EFT Corporation’ s philosophy of enabling inclusion through co-creation.
In Kenya, EFT Corporation will act as both the technology partner and strategic enabler of the SACCO payments platform. Working alongside a SACCO-led working group of 20 to 25 institutions, the company will guide the platform’ s design, development and implementation, drawing on its experience building complex, multi-stakeholder infrastructure in similarly dynamic markets. �
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