Hi wazuans, is it possible to save consistently in a Sacco for retirement purposes

Especially with recent collapses of saccos. Heart attacks are never far apart from the sacco movement

If you can wait 60 years earning single digit interest and your sacco does not collapse ad interim, sure it can work.

However, Nobody ever achieved financial independence (which is basically a euphemism for retirement) before age 40 by saving without serious, radical risk taking. But then again financial independence is relative and time more important than money but those are stories for another thread and day.

Sacco is a good place to save but the returns their are not robust enough to help you for retirement.
Retirement needs good and consistent returns over time that beat inflation in the long run.
I will advise that instead of a sacco,consider to save into the following diversified mix:
1.Stocks
2.Bond
3.Real estate
Depending with your age,put 55% of the funds into stocks,25% into bonds and 20% into real estate.This way you cushion yourself from risks.
Assuming you are below 40,do this for the next 20 years and you will retire at 60 very comfortably.

I hope you do not mean our local casino called the NSE hapa Kiinya

I would NOT recommend anyone put more than 1 to 2% of their net worth in the Casino. Sparky should chip in here. He and double A were jumping up and down hapa in a paroxysm of glee because my Neveready tanked to below 1 bob. Guys are getting shaved alive in the current bear market. Even blue chip powerhouses like ICDC! Woe to them if they are 55% locked in! At least with migundas no chance whatsoever of such scenarios in a developing economy with a massive supply deficit.