New Fortis Sacco paid out Ksh1.106 billion in dividends and interest to members after recording growth in assets, loans and membership, officials said during its 50th Annual General Meeting (AGM) held in Nyeri.
According to figures presented at the meeting, members received a 14 per cent dividend on share capital and 13 per cent interest on deposits for the financial year under review.
The Sacco reported total assets of Ksh13.06 billion, up from Ksh8.17 billion in 2020, while its loan book stood at Ksh10.77 billion in 2025. Membership increased to 24,234.
Board Chairman John Githinji Nduru said discussions at the AGM included the relationship between loan interest rates and dividend payouts, noting that adjustments to one affect the other and must be managed sustainably.
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During the meeting, officials said that the Sacco has rolled out a new core banking system to support digital services and regulatory reporting.
The AGM was attended by Nyeri Governor Mutahi Kahiga who said cooperatives continue to play a key role in local economic activity, and Cooperatives Principal Secretary Patrick Kilemi, who said the government is working on reforms aimed at strengthening governance and protecting member deposits.
New Fortis Sacco, formerly Nyeri Teachers Sacco, was established in 1976 and has since expanded its operations nationally.
By Amos Kiarie
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