Magereza Sacco remains one of Kenya’s long-established savings and credit cooperatives, with headquarters in Nairobi. Founded in 1971, Magereza Sacco has grown into a major member-based financial institution serving thousands of active members.
Based at Mageso Chambers along Moi Avenue in Nairobi’s central business district, Magereza Sacco operates within Kenya’s broader cooperative movement. Over the decades, employer-based SACCOs such as Magereza Sacco have played a key role in mobilizing savings and offering affordable credit to members.
Magereza Sacco Background and Growth
Magereza Sacco registered in 1971 and built its foundation around a defined common bond. Today, it maintains approximately 17,000 active members.
Historically, Kenyan SACCOs emerged to address credit gaps for salaried workers. Unlike commercial banks, they relied on pooled member savings to finance loans. Magereza Sacco follows this cooperative model, where members own and govern the society.
As financial inclusion expanded nationwide, many SACCOs modernized operations. Consequently, Magereza Sacco integrated digital services to remain competitive.
Magereza Sacco Branch Network
Magereza Sacco operates from its Nairobi head office and maintains regional branches across key towns.
Nairobi Branch
Mageso Chambers
Moi Avenue
P.O. Box 53131 – 00200
Nairobi, Kenya
Phone: (20) 2244138
Mobile: 0716 315 155 / 0718 224 956
Email: [email protected]
Eldoret Branch
Post Bank House
Uganda Road, Eldoret
Email: [email protected]
Mombasa Branch
Shimo la Tewa
Mombasa
Tel: 0716 853257
Email: [email protected]
Ruiru Branch
Prison Staff Training College
Ruiru Town
Tel: 0775 463716
Email: [email protected]
Kisumu Branch
Pioneer Building
Oginga Odinga Street
2nd Floor, Room 205
Tel: 0775 613113
Email: [email protected]
This branch network enables Magereza Sacco to serve members beyond Nairobi while maintaining centralized oversight.
Magereza Sacco Mobile Banking – M-Sacco
Magereza Sacco offers M-Sacco, a mobile platform that allows members to access services outside conventional business hours. Through this system, members transact using their mobile phones.
To access services, members dial *346#.
Services available include:
• Withdrawal from FOSA accounts
• Balance enquiry for loans, shares and deposits
• Loan repayment for BOSA and FOSA loans
• Mini-statement for recent transactions
• Change PIN
• FOSA to BOSA transfer
• Inter-FOSA transfer
Digital platforms such as M-Sacco reflect Kenya’s mobile-first financial environment. As mobile penetration increases, SACCOs that adopt USSD channels improve service efficiency.
How to Deposit via Paybill
Members can deposit funds using M-PESA Paybill number 173877.
Steps:
- Select M-PESA.
- Choose Pay Bill.
- Enter Business Number 173877.
- Use Account Format: 0101-001-Membership Number.
- Enter amount and confirm.
To boost shares, members follow the same steps but use Account Format: 0101-001-ID Number.
This structure simplifies remittances and reduces the need for physical branch visits.
How to Apply for M-Sacco
Members must complete an M-Sacco Registration Form and submit it to the Sacco office. After verification, the account links to the member’s mobile number.
The SACCO then issues a PIN. Members must change the PIN before conducting transactions.
This controlled registration process enhances security while maintaining accessibility.
Magereza Sacco in Kenya’s Cooperative Sector
Kenya’s SACCO movement ranks among the strongest in Africa. Cooperative institutions mobilize substantial member savings annually and support household financing.
Employer-based SACCOs, including Magereza Sacco, historically provided financial stability to public-sector employees. Over time, they adopted FOSA services and digital tools to remain competitive against banks and fintech lenders.
Regulatory oversight by the Sacco Societies Regulatory Authority ensures compliance standards in liquidity, governance and reporting.
Why This Matters
Access to cooperative finance strengthens household financial resilience. Mobile banking further improves convenience and transparency.
Magereza Sacco’s integration of M-Sacco demonstrates how traditional cooperatives adapt to digital disruption while retaining member ownership.
What Happens Next
Going forward, Magereza Sacco may expand digital functionality and deepen member engagement. As competition intensifies in Kenya’s financial sector, service quality and dividend performance will remain key.
Members should review savings requirements, loan policies and mobile service options before committing long-term funds.
