SACCO Launches New Strategic Plan
Kenya National Police Deposit-Taking SACCO announced an impressive dividend windfall for its members amounting to Ksh 3.9 billion for the fiscal year 2024, an increase of 9% from the previous year. This generous distribution comprised Ksh 624.2 million in Dividends on Share Capital, at a rate of 17%, and Ksh 3.3 billion in Interest on Members’ Deposits at a rate of 11%.
The Society has maintained its appeal and profitability by offering attractive returns to its members, affordable loan products with interest rates as low as 1%, quick loan processing, and instant mobile loans.
According to the Society’s financial statements for the period ending December 31, 2024, presented during its 51st Annual Delegates Meeting (ADM), Kenya National Police DT SACCO total assets posted a steady growth to reach Ksh 59.8 billion, up from Ksh 54.2 billion in 2023, an increase of 10.3%. Non-withdrawable deposits also increased by 9%, from Ksh 28.5 billion in 2023 to Ksh 31.1 billion in 2024.
With branches strategically located nationwide, the Society has continued to transform livelihoods. Its loan portfolio increased by 10%, reaching Ksh 50.3 billion in 2024, up from Ksh 45.6 billion in 2023. Revenues also grew by 12.9%, climbing to Ksh 9.9 billion from Ksh 8.8 billion in the previous year. With a share capital of Ksh 3.69 billion, the third-largest DT SACCO in Kenya continues making progress and leading the way in improving the fortunes of its members.
“For the fourth consecutive year, the Society was honored as the Best-Managed SACCO in Kenya during the 2024 National Ushirika Day celebrations. This achievement reflects the Society’s commitment to upholding good governance and professional practices,” said Mr. David Mategwa, the National Chairman.
The Society recently received impressive ratings from GCR, achieving an A- for long-term issuer ratings and A2 for short-term issuer ratings, both with a stable outlook. “These ratings highlight the Society’s strong capitalization, reliable funding, liquidity, and excellent asset quality,” stated Mr. Mategwa.
The SACCO has also been recertified with the ISO 9001: 2015 Certification for another three years, beginning in October 2024. This further reinforces the Society’s reputation and the trust it has earned from its members and stakeholders. This was the SACCO’s fourth ISO certification, having first achieved this feat in 2015. The ISO 9001 is a globally recognized standard that outlines how to establish, implement, maintain, and continuously improve a Quality Management System (QMS).
Focus on Innovation and Sustainability
During the colorful ADM event, the Kenya National Police DT SACCO launched its strategic plan for 2025-2029, focusing on three key areas: member centricity, institutional sustainability, and creating a better world to live in.
“The new strategic plan will enable the Society to adapt proactively to the ever-changing landscape and remain competitive,” Mr. Mategwa said.
The Kenya National Police DT SACCO has been at the forefront of delivering sustainable, innovative, and member-centered solutions.
Under its new business model, the Society unveiled a new vision: “A Thriving and Sustainable Future,” which emphasizes three key growth pillars: Member Centricity, Institutional Sustainability, and A Better World to Live In.
Its new mission is “To impact the lives of members and communities through sustainable and innovative solutions.”
Core values of Member Centricity, Integrity, Teamwork, and Innovation will guide the Society’s operations. With nearly six decades of commitment to uplifting individuals through savings and access to affordable loans, the SACCO is enhancing the member experience by leveraging technology to ensure seamless and satisfactory interactions. Additionally, the SACCO is transitioning to a paperless system and is in the process of upgrading its IT platforms.
“The Society reviewed its technology roadmap and therefore several initiatives are underway to improve our IT systems to enhance operational efficiency, member experience and service delivery,” said Mr. Mategwa.
In the coming months, Kenya National Police DT SACCO will undertake an upgrade of its various systems. These include plans to install a new mobile banking platform that will consist of more advanced self-service features and generate a more user-friendly experience for the Society’s members.
The Society has also reviewed its credit facilities to meet members’ needs and expectations better, ensuring the best value.
Giving back to society
As part of its Corporate Social Investment(CSI) programs, Kenya National Police DT SACCO runs a sponsorship and mentorship program for students of deceased members. In 2024, the Society sponsored 52 students who sat for the KCSE exam, with 48 attaining the minimum university entry requirements.
“The Society also supported the education sector with infrastructural development at Utumishi Primary School with the construction of 4 classrooms and a multi-purpose hall. At the Utumishi Boys Academy, the canopy gate and associated works whose construction had started the previous year, was handed over to the school, “said Mr Mategwa.
The Society also constructed and equipped a branded gym at the National Police College in Kiganjo. The SACCO is fully committed to espousing Environmental Social Governance (ESG), focusing on making the world a better place to live.
Best Savers Award
Kenya National Police DT SACCO has been upfront in encouraging savings through lucrative awards and recognition given to its top savers, including a trip organized for Brazil for the top 10 savers in 2024. Best savers in 2024 were recognized and rewarded during the event.
In 2025, the Society plans to conduct countrywide education programs for its delegates and top savers. “The top 10 savers will also have the opportunity of international exposure visits while the Board, Management and Staff will participate in various learn-and-share programs locally and internationally,” said Mr Mategwa.
Principal Secretary of the State Department for Co-operative Development, Hon. Patrick Kilemi, who was the Chief Guest at the ADM, urged the SACCO to implement fully its new Strategic Plan to attain the set objectives of transforming the lives of members and communities through sustainable and innovative solutions.
From humble beginnings, Kenya National Police DT SACCO has risen to become one of Kenya’s most decorated and best-performing SACCOs, currently serving over 74,300 members.
“The new SACCO roadmap if implemented fully will bolster its growth and take it to new heights. The SACCO leadership is responsible for safeguarding the welfare of members and effectively managing the resources entrusted to them,” said the PS.
Deputy Chief Justice Hon. Philomena Mwilu also graced the event.
The SACCO CEO Solomon Atsiaya reiterated the management’s commitment to improving the experience of the members by putting across several initiatives that largely support the membership and communities.
“We recognize that our success is not just measured in financial growth but in meaningful change we bring to the lives of those we serve. This is why we are committed to promote social responsibility and sustainable initiatives that uplift members and communities and protect environment,” said CPA Atsiaya.
The SACCO also believes in empowering members with the knowledge and tools to take control of their financial well-being.
Mr Eric Kamaitha, the SACCO Supervisory Committee Chairman, reported there was increased patronage of products by members last year owing to friendly loan products.
The Kenya Police Investment Cooperative, a subsidiary of the SACCO, attracted 7,210 members in 2024, who have deposited Ksh 154.5 million. The investment cooperative had total assets of Ksh 498.6 million and generated a revenue of Ksh 109.5 million.
