According to data released by SASRA, Sacco members earned a whopping Ksh49.14 billion in rebates last year. Saccos’ total income witnessed a significant increase of 11.13% from Ksh108.59 billion in 2021 to Ksh129.68 billion in 2022. The net income after tax also surged by 79.14% to Ksh20.21 billion, boosted by income from loans, which accounted for 86.39% of total income.
The loan portfolio generated Ksh104.26 billion, up from Ksh93.52 billion in 2021, while income from investments increased by 21.02% to Ksh8.17 billion. SASRA noted Saccos had made good progress in making appropriate financial investments.
Saccos’ members received Ksh49.14 billion as interest paid on their deposits, which accounted for 40.72% of the total income, an increase from Ksh43.61 billion in 2021. This shows Saccos are attractive destinations for savings and deposits.
Saccos’ external borrowings reduced by 2.29%, as many Saccos moved away from relying on expensive external loans to fund their assets, opting to rely more on internally generated resources. However, the cost of doing business for Saccos increased, pushing the operating expenses high.
During the period under review, the DT-Saccos segment recorded a total income of Ksh106.50 billion, while the NWDT-Saccos registered Ksh14.18 billion.
