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Strengthening housing finance in emerging markets: the savings and credit cooperative organisation (SACCO) model in Kenya

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  • Christopher Feather
  • Chris K. Meme

Abstract

Savings have long been an essential source of funding for credit. Whether in Europe, North America, Africa, Asia or Latin America, community-based financial institutions have relied on deposits to make financial services accessible to moderate-income borrowers. Despite the foundational role savings and loans have had in financial sector development, emerging markets have largely overlooked the important role these institutions can have in providing shelter credit in their own contexts. Savings and Credit Cooperative Organisations (SACCOs) in the Republic of Kenya illustrate the potential model for deposit-based lending to deliver housing finance for many of the country’s underserved prospective borrowers. This study draws upon the experiences of several savings and loan associations in the industrialized world with applications towards improving the Kenyan SACCO model that provides the most extensive credit union loans on the African continent. The article concludes community finance institutions merit strong consideration towards helping overcome the housing finance sector underdevelopment too often experienced in the developing world.

Suggested Citation

  • Christopher Feather & Chris K. Meme, 2019. "Strengthening housing finance in emerging markets: the savings and credit cooperative organisation (SACCO) model in Kenya," Housing Studies, Taylor & Francis Journals, vol. 34(9), pages 1485-1520, October.
    • Handle: RePEc:taf:chosxx:v:34:y:2019:i:9:p:1485-1520
    DOI: 10.1080/02673037.2019.1584663
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    Cited by:

    1. Hsu, Eric & Forougi, Noah & Gan, Meixi & Muchiri, Elizabeth & Pope, Dan & Puzzolo, Elisa, 2021. "Microfinance for clean cooking: What lessons can be learned for scaling up LPG adoption in Kenya through managed loans?," Energy Policy, Elsevier, vol. 154(C).
    2. Du, Yanan & Wang, Qingxi & Zhou, Jianping, 2023. "How does digital inclusive finance affect economic resilience: Evidence from 285 cities in China," International Review of Financial Analysis, Elsevier, vol. 88(C).

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