- IG Sacco assets rose 12% to Ksh16.4 billion, earning it three national Ushirika Day Awards.
- Loans grew 14.8% to Ksh14.1 billion, while membership increased to 29,430.
- The Sacco maintained zero external borrowing and a 3.1% non-performing loan ratio.
Invest and Grow (IG) Sacco Society Limited’s total assets have grown to Ksh16.404 billion, up from Ksh14.644 billion, a 12 percent rise that has helped it win three national awards at this year’s Ushirika Day Awards.
The Sacco’s income rose 14.4 percent to Ksh2.288 billion, while its loan portfolio expanded 14.8 percent to Ksh14.103 billion. Credit disbursement climbed 20 percent to Ksh12.438 billion, driven largely by a 28 percent jump in income based loans to Ksh6.919 billion.
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Membership also grew. Active membership rose to 29,430 from 27,717, after the Sacco recruited 2,219 new members. FOSA salary earners increased to 17,033 from 15,938.
According to Sacco Societies Regulatory Authority (SASRA) supervisory data, IG Sacco has maintained zero external borrowing and a non-performing loan ratio of 3.1 percent. Its capital position remains strong, with core capital to total assets at 31.6 percent and institutional capital at 22.6 percent, both above regulatory minimums.
The Sacco has also moved to protect long term member benefits, raising monthly Sinking Fund contributions to Ksh400 per member from Ksh250, after determining the previous level could no longer sustain the fund’s payouts.
Governance changes have accompanied the growth. IG Sacco recently held elections in the Tiriki, Mumias, Butere and Lurambi electoral areas, alongside a supervisory election for Kakamega County ‘A’.
By Benedict Aoya
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