NAIROBI, Kenya – Stima DT Sacco has announced a 16% dividend per share on fully paid-up shares and an 11% interest rebate for its members for the financial year ending December 31, 2024.
This translates to a total payout of Sh4.6 billion, marking a rise from Sh4.1 billion in 2023.
The record-breaking payout reflects the Sacco’s strong financial performance, backed by double-digit growth across key financial indicators.
Stima Sacco’s loan book expanded by 11% from Sh45.15 billion to Sh50.24 billion, while consolidated deposits rose by 8% from Sh43.13 billion to Sh46.69 billion.
The balance sheet also recorded a 12% growth, increasing from Sh59.15 billion to Sh66.44 billion.
Total revenue jumped 13% to reach Sh10.26 billion, driven by Sh1.8 billion in investment income.
National Chair Joseph Siror attributed the Sacco’s robust performance to prudent financial management and a member-focused approach.
“This growth reflects our dedication to sound financial management and prudent risk practices,” Siror said. “It allows us to reinvest in our members and communities through loans for home ownership, education, and business expansion.”
CEO Gamaliel Hassan echoed similar sentiments, noting that membership grew from 200,145 to 220,650, reinforcing the Sacco’s position as a key player in financial inclusion.
“Despite a volatile global economic environment, we achieved commendable growth across critical performance metrics,” Hassan said.
The Sacco’s core capital increased from Sh10.6 billion to Sh13.4 billion, raising the statutory ratio from 17.94% to 20.22%, ensuring strong liquidity and financial stability.
Cooperatives and MSME Development Cabinet Secretary Wycliffe Oparanya lauded Stima Sacco’s role in driving financial inclusion and supporting SMEs.
“Your ability to offer affordable credit and savings solutions has been instrumental in uplifting households, businesses, and entire communities,” he said.
The government is advancing reforms in the sector, including the Cooperatives Bill and Sacco Societies Act amendments, which will introduce a central liquidity facility and shared services for licensed Saccos.
“These reforms will enhance governance, efficiency, and competitiveness, ensuring cooperatives remain resilient and adaptive to emerging economic trends,” Oparanya added.
