Kenya Highlands Deposit Taking Sacco has maintained a national winning streak after being voted the most improved organization to bag a top award during the 2022 edition of the Champions of Governance (COG) Awards.
The Sacco has consistently featured prominently in the awards for excellence in governance, highlighting its leadership and management commitment to adhere to good corporate governance.
The COG Award points to the Society’s efforts to maintain the highest standards of practice of good governance, in line with its mission of mobilizing resources to meet customers’ needs entirely and its vision of being a preferred dynamic financial provider to customers and the community.
Kenya Highlands DT Sacco was recognized for its innovations which support good governance and enhance service delivery. COG Awards is organized by the Institute of Certified Public Secretaries of Kenya (ICPSK). This year’s edition was held at Movenpick Hotel in Nairobi. The Award aims at promoting practices in good governance by recognising of practice and application of good governance in both the public and private sector entities.
Since its establishment in 1991, Kenya Highlands DT Sacco has continued to record tremendous growth and financial performance to stand tall in thriving Kenya’s co-operative movement winning national recognition and awards.
Recently, the Society’s outstanding performance saw it take home trophies and certificates for being the best-managed agricultural-based Sacco countrywide and the second-most efficient Society nationwide during Ushirika Day Celebrations. It was also the third-best in credit management DT Sacco in the agricultural-based category. In Kericho County, where it has its headquarters, the Sacco bagged numerous awards.
With over Ksh3.5 billion in total assets, the Sacco is among the top-ranking Co-operative Societies. It is licensed and regulated by the Sacco Societies Regulatory Authority (SASRA).
Its upward growth trajectory has remained steady, with members receiving attractive annual investment returns. The Sacco has also leveraged on technology to improve service delivery while offering relevant, reliable, and convenient banking solutions.
The Sacco is set to commence the construction of its new Kericho Town Plaza next year.
Speaking recently during a special delegates meeting, the Sacco chairman Mr Richard Mutai said they had started the process of putting up the plaza, having had all relevant authorities approve the construction. “We are working on the technical aspect as we expect the project to start early next year,” he said.
The multi-million project will enhance the Sacco’s brand and ensure members get better services and banking experience.
The chairman told delegates they had finalized the 2023-2028 strategic plan, which envisages growth of total assets and annual revenue to Ksh 10 billion and Ksh 1.8 billion, respectively, in the next five years.
“This is a very ambitious target and requires a concerted effort from all of us. To achieve this growth, we must grow our loan book by Ksh 2 billion yearly. This calls for an upgrade of the IT system and the enhancement of education and marketing to members in the coming years,” he said.
Despite the tough economic times, the Sacco maintained steady growth in the last eight months of the year with a 10 per cent growth in membership or an impressive 10,178 new entrants.
By the end of August, the Sacco had disbursed Ksh2.35 billion in loans and advances to members. The Society also opened two satellite marketing offices in Kiptagich in Olenguruone and Kaptumo in Nandi, which have shown tremendous growth in membership and business. “We are considering upgrading them to fully-fledged branches, which is viable according to a feasibility study we had conducted,” said Mr Mutai.
Kenya Highlands DT Sacco has also introduced more financial products targeting the dairy and business sectors. “We urge our members to remain loyal and patronize our products to benefit fully from the Sacco. Our financial solutions are diverse to meet all our members’ financial needs,” said Mr Mutai.
The Sacco Chief Executive Officer, Mrs Alice Kosgei, exuded confidence business will continue to grow as the economy continues to rebound. “We are assuring members that the Sacco will continue being innovative in product development to serve them better. They are assured of affordable loans and good annual returns,” she said.
As the leading agriculture-based Sacco, Kenya Highlands has enabled thousands of farmers to venture into agri-business while leaving an indelible mark in the agriculture and business sectors. The DT-Sacco leads in paying the highest tea bonuses to farmers annually in the Rift Valley region, greatly impacting the economic well-being of many members who are able to meet their development goals.
