NAIROBI, Kenya – Harambee Sacco has posted its strongest financial performance yet, announcing a record-high dividend payout of 15% on share capital, up from 12% in 2023.
This marks a significant milestone in the Sacco’s 54-year history.
Speaking at the 54th Annual Delegates Meeting (ADM) on Monday, March 3, 2025, National Chairman Macloud Malonza highlighted the Sacco’s continued growth, attributing the success to strategic financial management and increased member confidence.
“For the first time since inception, the society is proposing to pay an all-time high interest on deposits of 9%, up from 8.5% in 2023.
On share capital, we are declaring a 15% dividend, another all-time high,” Malonza said.
Harambee Sacco’s total assets grew by over KSh 2 billion, reaching KSh 38.6 billion by the end of 2024, up from KSh 36.7 billion in 2023.
The loan book expanded to a record KSh 32 billion, compared to KSh 29.1 billion the previous year.
CEO Dr. George Ochiri also reported a rise in member deposits from KSh 24.6 billion in 2023 to KSh 26.2 billion in 2024.
The Sacco’s core capital surged from KSh 5.1 billion to KSh 6.3 billion, reinforcing its financial strength.
“Our share capital now stands at KSh 2.5 billion, up from KSh 2.3 billion in 2023. Total revenues have grown from KSh 5.7 billion to KSh 7.01 billion, while net surplus improved from KSh 1.2 billion to KSh 1.46 billion,” Ochiri stated.
The impressive financial results reflect Harambee Sacco’s solid growth strategy and the increasing trust of its members.
The higher dividends and interest payouts signal a strong return on investment for Sacco members, further cementing Harambee’s position as a key player in the cooperative sector.
With a growing loan book, rising member deposits, and a robust financial base, Harambee Sacco is poised for continued expansion in 2025 and beyond.
