Having celebrated 25 years of financial excellence in 2024, Dimkes Sacco has maintained a high growth momentum, witnessing exceptional financial performance last year.
The Sacco solidified its high ranking in the cooperative movement and elevated its reputation as a trusted financial partner. Its total assets rose from Ksh 2.84 billion in 2023 to Ksh 3.34 billion in 2024.
“Beyond 2025, I am convinced our desire to become a large-seized and a world class DT Sacco will be accomplished,” said Mrs Caroline Gikonyo, Board of Directors Chairlady.
Overall, Dimkes Sacco had a strong financial performance, with turnover growing by 23% to reach Ksh 537.62 million in 2024. The growth was largely bolstered by increased lending and a diversified investment portfolio,
Speaking during the Sacco’s 3rd Annual Delegates Meeting recently, Mrs Gikonyo said the Sacco loan book surged by 24.6%, closing at Ksh2.6 billion last year compared to Ksh2.08 billion a year earlier. Members received Ksh 2.22 billion in loans and advances last year, a 27.6% growth from Ksh1.74 billion in 2023. The high demand for loans highlights the affordability and accessibility of the Sacco’s credit facilities. Over Ksh409.23 million worth of e-loans were disbursed through the Sacco’s digital platform, M-Chipuka.
“The loan book quality has significantly improved. We have reduced portfolio at risk by ensuring periodic review of the credit policy and prudent loan appraisal,” said Mrs Gikonyo.
Sectoral lending data shows a big chunk of the Sacco’s loans went to land housing, trade, finance, investments and insurance, as well as agriculture. The Sacco has enhanced its loan products, customizing them to meet the diverse needs of its members. The Sacco introduced flexible loans aimed at specific sectors. This alignment with members’ needs has helped the Sacco remain a key player in Kenya’s financial inclusion agenda.
By offering tailored and diversified financial solutions, Dimkes Sacco attracted members drawn from various sectors, including small and medium enterprises (SMEs), salaried employees, and the informal sector, growing its membership to 39,011. The dormant membership reduced significantly by over 2,470, highlighting their trust and confidence in the Sacco.
“We have consistently worked on improving our offerings and ensuring our members’ financial well-being. The robust growth we have experienced this year reflects our commitment to meeting members’ evolving needs,” said Mrs. Gikonyo.
An upward trajectory growth in savings and deposits by 19% from Ksh 2.06 billion in 2023 to Ksh 2.42 billion in 2024 helped bolster Dimkes Sacco’s liquidity. The Sacco introduced various channels to boost deposit mobilization, such as Lipa Kwa Sacco pay bill number, Agency Banking (Tupo Ulipo), M-Chipuka, and Personalized Cheque services, among other innovative digital solutions,
In recent years, the Sacco leadership and management have implemented strategic initiatives focusing more on member engagement, offering more relevant financial products, and enhancing digital platforms. Last year, the Sacco upgraded its core banking system, improving operational efficiency.
The Sacco has enhanced its digital platforms, making it easier for members to access mobile loans, make deposits, and track their savings. The introduction of a mobile banking app (M-Chipuka), which allows members to conduct transactions remotely, has been a game-changer. Members can access up to Ksh 50,000 e-loan through mobile banking platforms.
Dimkes Sacco members not only enjoyed affordable loans but also leaped handsomely, earning high annual returns. The Sacco distributed a total payout of over Ksh140.3 million, a 22.9% increase from the previous year, with the Board of Directors announcing payment of dividends on shares at 14% and interest rebate on deposits at 6.5%.
Mr Benson Maina, the Sacco CEO, said they had complied with all the Sacco Societies Regulatory Authority (SASRA) requirements.
“We have ensured we provide our members with exceptional financial services while mitigating on all risks such as cybercrime,” he said.
Dimkes Sacco has set ambitious goals for the future. The Sacco plans to expand into new regions, increase its membership base further, and offer innovative financial solutions for sustainable development. The Society is fostering financial empowerment and community development across the country.
Ms Janet Githendu, Director of Cooperatives in Kiambu County, was the Chief Guest at the ADM and commended the Sacco for its adherence to good corporate governance and prioritizing people over profit.
Rev Canon Geoffrey Mungai said the Sacco had played a big role in transforming congregants’ lives by providing financial empowerment.
In 2024, Dimkes Sacco won six national awards for outstanding financial services to its members during the national Ushirika Day celebration. It was awarded for being the best in technology optimization, second best in credit management and most improved DT Sacco, as well as third best managed and capitalized DT Sacco in the community-based DT Sacco category. It was also recognized as the third most efficient DT Sacco.
Dimkes Sacco has remained a faithful financial partner and has been a game-changer in financing MSMEs.
The Sacco’s impact goes beyond providing quality financial services to change communities through CSR
initiatives. These include supporting community feeding programs, sponsoring football teams, boy child empowerment, environmental conservation through tree planting and town cleaning activities, and sponsoring needy students to accomplish their education dreams.
“We have consistently worked on improving our loan and savings products, ensuring our members’ financial well-being. The robust growth we have experienced this year reflects our commitment to meeting members’ evolving needs.”
~ Mrs. Caroline Gikonyo, Chairlady.
To be a world class deposit taking Sacco anchored on Christian values.
To holistically transform lives through sustainable economic empowerment while being socially responsible and meeting stakeholder’s needs.
