Kenya’s Most Profitable Saccos

According to the Sacco Supervision Annual Report for 2023, regulated Saccos had a 12.94% increase in total income, rising to Ksh 136.30 billion in 2023 from Ksh 120.68 billion in 2022. This growth in income enabled members to receive higher dividends and rebates. Interest expenses on deposits and dividends distributed to members also increased by 12.06% in 2023, totalling Ksh 55.06 billion, up from Ksh 49.14 billion in 2022. This accounted for 40.40% of the total income.

In 2023, Saccos offered higher interest rates on members’ deposits, averaging 7.45%, compared to 6.92% in 2022. The average dividend rate also increased to 10.92% in 2023, up from 10.47% in 2022, both of which surpassed rates offered by commercial banks.

When comparing DT-Saccos and NWDT-Saccos, DT-Saccos provided a dividend rate of 10.79% in 2023, an increase from 10.41% in 2022, and an interest rate on deposits of 7.70%, up from 7.11% in the previous year. Conversely, NWDT-Saccos offered an 11.06% dividend rate in 2023, up from 10.92% in 2022, along with a 7.20% interest rate on deposits, which rose from 7.10% in 2022.

Below is the ranking of the most profitable Saccos with an income above one billion based on the SASRA report highlight FY 2023 performance: