Tower Sacco posted a 35 per cent growth on surplus for the financial ended December 31st 2020 maintaining an upward trajectory in all key areas.
The Sacco Societies Regulatory Authority (Sasra) regulated Deposit Taking Sacco netted Ksh 2.07 billion in total income, a growth of 30 per cent, while the surplus increased to Ksh 1.29 billion in 2020.
The impressive operating results saw the Board of Directors declare high annual returns to members amounting to over Ksh1.07 billion as dividends on shares and rebates on non-withdrawable deposits. Dividends were paid at a rate of 20 per cent while interest on members’ deposit was paid at a rate of 13 per cent, which is among the highest in the country.
