Samsung Electronic has partnered with supermarket chain Nakumatt to offer members of Savings and Credit Cooperative Societies (SACCOs) their products on credit. In an invite to the media, the electronic company noted "For the first time, SACCO members can now walk into any Nakumatt branch in Kenya and buys Samsung products on easy monthly check off terms from their respective SACCOs.

This arrangement will see members of the more than 1000 registered SACCOs countrywide acquire Samsung products on installments based on their savings at their SACCO. The products will range from home appliances, TVs, fridges, microwaves and radios to mobile phones.

The product is scheduled for official launch on Tuesday September 18th in Nairobi and will be effected countrywide thereafter.

The SACCO sector has in the last year experienced huge growth owing new enrollment and faith in the systems. According to reports by SASRA growth in the SACCO has been driven by growth in customer deposits. Deposit taking SACCOs reported a membership growth to 2.09 million in 2011 from 1.64 million in 2010. As at the end of 2011, there were 3,887 SACCOs with 215 which are deposit taking having the bulk of the membership.