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Sunday, November 10, 2024

Kenya National Police DT SACCO wins best-managed award

The Sacco scooped 5 trophies at the 2022 Ushirika Day fete.

 By Co-op News

Kenya National Police DT SACCO has been crowned the country’s best-managed Co-operative Society. On a glory night during the 2022 Ushirika Day celebrations, the SACCO won a total of 5 national awards, stamping its dominance as the country’s premier institution in the co-operative movement.

President Uhuru Kenyatta, who graced the event held at KICC, awarded the SACCO trophy for being the country’s second-best managed SACCO. The SACCO also won trophies for Best SACCO in Credit Management, 2nd Best Managed DT SACCO and 3rd Best SACCO in Risk Management countrywide.

Effective strategic management plans have seen the Society bag top awards and recognition nationally and internationally. It emerged as the winner in the 2021 FiRe awards. The country’s third-largest Sacco in total assets has maintained its winning streak in various areas while trailblazing on many fronts. 

It has equipped members with relevant knowledge and skills through robust financial literacy sessions and programs targeting savers. The Society also organizes top savers conferences to enhance member engagement and promote saving culture. This has enabled the transformation of members’ way of life.

 The SACCO was established 50 years ago and has grown in leaps and bounds, scooping various recognitions in the international arena. It is considered a trendsetter in the co-operative industry due to its impact on the financial health of its members.

 While celebrating 50 years since its establishment, Kenya National Police SACCO aims to continue into the next 50 years by improving the lives of its members and maintaining stable financial results.

 For half a century, the Society has strengthened its brand identity, trust among the public, and credible management at a time when many societies are grappling with severe management and financial challenges. Kenya National Police DT SACCO is now a reference point for others who wish to benchmark.

 An outstanding financial institution keen to impact members’ livelihoods, the SACCO paid Ksh 2.9 billion in dividends and rebates to its members, positioning the Society as one of the most profitable and rewarding SACCOs in Kenya.

 The SACCO, which attracts members from its staff members, permanent employees of Utumishi Investment Limited, Ruaraka Housing Estate Limited, civil servants, corporate entities operating in Kenya, and the Business Community, now has a membership of more than 65,606 and a balance sheet size of Ksh 44.1 billion as at the close of December 31st, 2021.

 Established to mobilize savings and provide affordable credit facilities to members, the Kenya National Police DT SACCO has been able to support its members in accomplishing their personal and business development goals. Members’ success stories abound, attesting to the Society’s accessible financial support.

 Dr. Fred Matiangi, Cabinet Secretary, Ministry of Interior and Coordination, has on many occasions praised the institution for its remarkable performance in uplifting livelihoods, particularly members of disciplined forces, through providing quality financial solutions.

 The success of Kenya National Police DT SACCO is anchored on its commitment to the best principles of corporate governance, ensuring it complies with existing laws and regulations, including international best practices. 

 The Society has embarked on a journey of incorporating the Environmental, Social, and Governance (ESG) criteria of operations, ensuring that institutional returns are derived objectively and socially and environmentally responsible.

 The SACCO has adopted the best business practices, financial reporting standards, and implementation of principles and practices for good corporate governance while building a solid enterprise risk framework and strategies.

 Technology is a driver of the SACCO business model, enabling deepening accessibility of financial services to the membership, with the Society deploying various systems to allow seamless and efficient delivery of products and services.

Its subsidiary, the Kenya Police Investment Cooperative, enables members to acquire and own property.

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