Ndege Chai Sacco’s 2023 Revenue Hits Ksh823.8M

Ndege Chai Sacco has reported impressive financial growth for 2023. Total revenue reached a staggering Ksh823.8 million, while the Sacco disbursed Ksh328.6 million back to its members.

This translates to a significant increase in member dividends (Ksh20 per 100 shares, up from Ksh15) and a generous 10.5% interest on deposits.

The Sacco’s unwavering dedication to financial prudence has instilled a culture of fiscal discipline among members, leading to enhanced savings accumulation and facilitating access to affordable loans for various developmental projects.

This ethos has propelled the Sacco to achieve a remarkable surge in total revenue, soaring to an impressive Ksh823.8 million.

With a strategic vision for prosperity at its core, Ndege Chai Sacco has witnessed a surge in membership, surpassing 70,200 individuals who have embraced the Sacco’s ethos of financial empowerment.

Withdrawable savings witnessed a significant growth to Ksh652 million in 2023 from Ksh577 million in 2022, underlining the growing trust and confidence in the Sacco’s financial management.

Non-withdrawable deposits also experienced substantial growth, reaching an impressive Ksh2.72 billion last year, a substantial increase from Ksh2.38 billion in the preceding year.

The Sacco’s integration of innovative technologies and unwavering commitment to excellence in service delivery have catalyzed a surge in loan uptake, propelling the loan book to Ksh3.58 billion in 2023 from Ksh3.14 billion in 2022.

This growth underscores the Sacco’s pivotal role in providing accessible financial solutions to its members for diverse needs. Ndege Chai Sacco’s journey towards attaining tier one status among the premier DT Saccos remains steadfast, with total assets escalating from Ksh4.27 billion in 2022 to an impressive Ksh4.86 billion by the end of 2023.

The Sacco’s robust governance framework ensures compliance with all prescribed capital adequacy ratios, solidifying its position as a beacon of financial stability and trust.

Chairman Mr. Daniel Sang extended a warm invitation to a broader audience to join Ndege Chai Sacco and partake in the benefits of sound financial stewardship, accessible loans, and exceptional service delivery.

The Sacco’s membership footprint spans across Kericho, Nakuru, Bomet, Nyamira, Nandi, Mombasa, and Nairobi counties, reflecting its commitment to serving diverse communities across the nation.

Mr. Sang reaffirmed the Sacco’s unwavering commitment to championing exemplary corporate governance practices, ensuring enduring sustainability and transparency in all its operations.

The Sacco’s accolades at the Champion of Governance Awards and Ushirika Day celebrations underscore its commitment to excellence and outstanding leadership in the cooperative sector. Ndege Chai Sacco’s success narrative is a testament to its unwavering dedication to empowering members and fostering financial prosperity.

Through cutting-edge technology and a commitment to social responsibility, the Sacco continues to redefine financial services, offering members a pathway to financial freedom and community impact.