dividends - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Government plans to finalize Cooperatives Bill to strengthen governance and legal collaboration

Sacco ReviewDecember 6, 202405 mins

The government is planning to finalize the Cooperatives Bill that will enhance governance and legal collaboration between the national and county governments. The ministry is relooking at the Sacco Societies Act to be amend and establish a central liquidity facility and shared services platform to streamline the financial services. According to the CS Oparanya, Saccos…

Taqwa Sacco records KSh27 million profit for year 2023

Sacco ReviewMay 18, 202402 mins

Taqwa Sacco has declared KSh27 million in profit for the year 2023. Also, it paid out dividends to its shareholders amounting to KSh13 million. Founded in 1998, Taqwa Sacco is Kenya’s pioneering Shariah-compliant financial institution, offering Halal credit and investment opportunities to its members. Taqwa Sacco boasts a membership of more than 13,500 individuals across…

Stima Sacco assets hit record KSh59.1 billion in 2023

Sacco ReviewApril 3, 202403 mins

Stima DT Sacco has Sacco achieved remarkable growth across all key indicators in the year ended December 31, 2023, this was revealed during the Sacco’s Investors briefing meeting in Nairobi. The Sacco which turns 50 years this year paid members dividends at a rate of 15 per cent and rebates at 11 per cent. This…

I&M Group dividend up as profit jumps to KSh12.6 billion

Sacco ReviewMarch 26, 2024March 26, 202402 mins

I&M Group bags net profit growth by 12.6 per cent from the financial year ending December 2023 amounting to KSh12.6 billion. The firm attributes the 15 per cent growth in its profits to an increase in its operating income. The Group has also increased dividends for the third straight year to KSh2.55 a share amounting…

KCB shareholders get zero dividends as profit declines

Sacco ReviewMarch 22, 2024March 27, 202402 mins

Kenya’s KCB Group posted a 15 per cent drop in pretax profit in 2023 to KSh48.5. Therefore, it announced it would not pay a dividend for the period in order to conserve capital. For the first time in 21 years, KCB Group shareholders will miss out on dividends after the bank reported a net profit to…

PS Cooperatives urges SACCOs to hire competent officials

Sacco ReviewMarch 21, 2024March 23, 202402 mins

Principal Secretary Department for Cooperatives Patrick Kiburi Kilemi has asked Sacco members to always hire competent officials to run the SACCOs. He said incompetent officials are not able to perform leading to poor performance of most firms. Speaking during APSTAR Sacco (former Ukulima Sacco) 46th ADM at Serena Hotels he said the board should also…

Smiles for savers as Saccos pay high dividends

Sacco ReviewMarch 2, 202403 mins

Top Saccos in the country are paying members at least four per cent more in dividends for their 2023 savings compared to a year earlier. Most cooperatives attributed the performance to muscular growth in its net interest income, enhanced member deposits and increased membership. Safaricom Investment Corporative (SIC) members will take home KSh142.4 million in…

Invest and Grow Sacco’s annual profit surges to KSh1.91 billion

Sacco ReviewMarch 1, 2024March 1, 202403 mins

The Invest and Grow (IG) Sacco, based in Kakamega County on Wednesday February 28, 2024 reported a 2.5 per cent jump in 2023 net profit. The net profit of KSh1.91 billion for last year compares with a profit of KSh1.86 million a year earlier. The Sacco intends to enroll more members to channel their income…

KenGen profit falls 9.2 per cent on weak shilling

Sacco ReviewMarch 1, 2024March 1, 202404 mins

Kenya Electricity Generating Company (KenGen) has reported a 9.2 per cent drop in net profit in first-half earnings compared with the same period a year earlier. The listed firm reported KSh2.96 billion in net profit for the six months to December 2023. This profit drop from the KSh3.26 billion reported in a similar period last…

Hazina Sacco members told to focus on affordable loans

Sacco ReviewFebruary 26, 2024February 26, 202402 mins

Commissioner for Co-operative Development David Obonyo has challenged Savings and Credit Cooperative Organizations (Saccos) members to focus on getting affordable loans from their Saccos rather than high dividends. Speaking during the recently concluded Hazina DT Sacco Annual Delegates Meetings (ADMs) in Nairobi, he asked members to have long term investments through the Saccos, since co-operative…