The Sacco’s golden jubilee of colour, celebrates five decades of transformation, innovation, member and community empowerment.
Lights flickered. Cameras clicked. Laughter rolled across a huge tent at the Catholic grounds in Ol Kalou town, where dancers took the stage in a riot of rhythm and colour. Every detail, from the decorations to the lighting, had been set to perfection, for this was no ordinary day. Tower Sacco was turning 50.
Half a century on, the Sacco has lived up to its name, towering over its peers with one success after another. The Golden Jubilee brought another milestone: ISO 9001:2015 certification. The internationally recognised quality management standard confirms that Tower Sacco’s operations meet global benchmarks, strengthening member trust and reducing operational risk. The Board of Directors also unveiled an ambitious Strategic Plan and more digital loans for members, turning the celebration into a launchpad for the next fifty years. Today, Tower is the country’s fifth-largest deposit-taking Sacco and among its fastest-growing.
But before the music and dancing, the day began in prayer. A sermon set the tone, calling for a world where everyone matters and where the system does not manufacture poor people.
Chief Guest Dr Nelson Kuria, CIC Group Chairman, said good leadership keeps institutions alive across generations, and Tower Sacco proves it. He credited the Sacco with raising Nyandarua County’s profile while lifting many members out of poverty.
“I have interacted with the Sacco’s leadership and management, and I can attest that members’ money is in safe hands,” he said.
Nyandarua County Governor Dr Moses Kiarie called the Sacco a model of sustainable growth. Through its partnership with the county, he said, his government has been able to turn development goals into projects that reach people.
The Journey
For the Sacco Board Chairman Peter Ngugi, the Tower story began long before the branches, the technology or the billions.
“It began with a dream,” he told the gathering.
In 1975, a group of teachers decided to stop waiting for opportunity and build it themselves, creating an institution where colleagues could save, borrow and improve their lives. “In 1977, the largest loan to an individual member was KSh15,000. Today the Sacco’s loan book exceeds KSh30 billion, and members can borrow millions,” said Mr Ngugi.
Dividend payments began in 1980 and have never stopped. For the 2025 financial year, the Sacco declared 20 percent on share capital and 13 percent on share deposits.
Steadily, Tower’s circle has widened. It opened its Front Office Service Activity (FOSA) in 1989. In 2010, it adopted a common bond, ending its near-exclusive focus on teachers and welcoming professionals from other sectors. It rebranded in 2012.
Banking without borders
Technology has reshaped how members reach their money. A privately managed wide area network, commissioned in May 2020, now connects 25 of the 31 branches, more than 80 percent of the footprint. It gives the Sacco greater independence and a scalable base for digital growth.
Members can bank through mobile, internet and agency channels, or dial *655#. Agents handle deposits, withdrawals and loan repayments close to where members live or work. Kenyans abroad get diaspora banking support to manage their finances and invest back home.
Most loan products, including self-guaranteed, emergency and check-off loans, are now digitized. The Sacco mortgage financing, offered in partnership with the Kenya Mortgage Refinance Company, is helping more members pursue decent, affordable homes. Through Tower Tech Insurance, the Sacco is expanding cover directly to members, while also providing a group funeral expense policy tailored to them.
Growth by the numbers
Tower Sacco’s growth scale is striking. The Sacco has more than 380,000 members and assets above KSh38.8 billion, ranking fifth among 176 registered deposit-taking Saccos nationwide. The Sacco leadership is ensuring members’ wealth is well protected, even as the institution targets to grow the Sacco total assets to above KSh80 billion by 2030.
“As a board, we take that responsibility seriously,” Mr Ngugi said. “Growth is good, but sustainable growth is better.”
He affirmed that the Sacco will hold to the values that have carried it for five decades: hard work, integrity, respect, innovation, creativity and fear of God.
The Sacco CEO, CPA Patrick Njenga, described the golden jubilee as a celebration of social impact and of better service through digitalization.
“A seed was planted, and today we rest in the shade of the tree it became,” he said. “We celebrate a journey built on integrity, strengthened by efficiency and defined by transformation.”
Mr Robert Njue, the Kenya Teachers Sacco Association (KETSA) Chairman, said the anniversary honoured 50 years of vision, discipline and, above all, the trust members have placed in the institution across generations.
He said Tower Sacco has shown what inclusivity, innovation and shared success can build when members, leaders and stakeholders pull in the same direction. KETSA, he added, is proud to celebrate a member that continues to strengthen the association itself.
