NAIROBI,Kenya- Qona Sacco has unveiled a fresh growth plan that seeks to triple its membership to more than 70,000 by 2028, with a focus on tapping into Kenya’s fast-rising Generation Z population.
The Sacco, founded in 2001, has grown steadily to 19,332 members with an asset base of KSh14 billion.
Since opening its common bond in 2011, it has expanded beyond its initial membership base to individuals and institutions countrywide.
The institution is regulated by the Sacco Societies Regulatory Authority (SASRA).
The push comes on the back of a major rebrand completed in November 2024 and the opening of its new headquarters at Goodman Plaza, Nairobi.
As part of its strategy, Qona Sacco will offer mortgages at an annual rate of eight percent, with loans of up to 10 times members’ deposits.
It is also banking on Gen Z, a demographic increasingly shaping financial services in Kenya through digital-first habits and growing demand for personalized solutions.
“This move is not just about new offices, but about creating a home that reflects our vision innovation, inclusivity and a relentless commitment to our members,”said Qona chairperson Faith Njue.
Chief Executive Officer Joseph Njoroge added,
“Qona Sacco is more than a financial institution it’s a community. Regulated by SASRA, we are focused on creating a financial ecosystem that meets members where they are. With custom-made products, a renewed brand, and now a new headquarters, we are ready to empower our members to pursue their dreams with confidence.”
The Sacco’s pivot to Gen Z aligns with industry data showing the demographic’s growing role in the banking sector.
A Kenya Bankers Association report noted that Gen Z is driving digital adoption in finance, though reliance on instant loans has also fueled rising non-performing loans, which hit 16.4 percent by December 2024.
By blending affordable credit products with modern branding, Qona Sacco says it is positioning itself to capture Kenya’s youngest and most influential banking segment.
