Members get Ksh1.1B Dividend Windfall
Newfortis Sacco announced a record-breaking dividend and interest payout exceeding Ksh 1.1 billion. The announcement, made during the Sacco’s 50th Annual General Meeting (AGM) at Nyamachaki Primary School grounds, marks a historic milestone for an institution that began five decades ago with a handful of teachers and a shared vision of prosperity.
This windfall arrives as the Sacco celebrates its Golden Jubilee, marking 50 years of financial resilience, excellence, and member-driven success.
Addressing thousands of members and guests, the Board of Directors Chairman, Mr. John Githinji, revealed that the Sacco will reward its members with a 14% dividend on share capital and a 13% interest rate on deposits. This payout—totaling Ksh 1.11 billion—comes at a critical time when many Kenyans are grappling with a tightening economy.
“Our growth continues to be anchored on strong corporate governance, excellent service delivery, and institutional capacity development,” Mr. Githinji told the AGM. “The board is proud to note that as part of our 50th-anniversary milestone, we have returned this wealth to you, the members, who are the heartbeat of this institution.”
A Journey of Fifty Years
The atmosphere at the AGM was one of nostalgia and triumph. The Sacco, which rebranded from Nyeri Teachers Sacco to Newfortis in 2015 to embrace a more diverse membership, has come a long way since its inception in 1976.
Back then, it started with just 857 visionary primary school teachers in Nyeri County, contributing a mere Ksh 20 monthly. Today, that small seed has grown into a financial forest. Audited financial statements approved by the Sacco Societies Regulatory Authority (SASRA) show that Newfortis membership has surged to 24,234, while total assets skyrocketed to Ksh 13.07 billion as of December 31, 2025.
The 2025 financial year saw robust growth across the board. The loan book expanded to Ksh 10.77 billion as the Sacco continued to help members achieve their development goals. Share capital also increased to Ksh 195.4 million, with the management raising the individual share cap from Ksh 20,000 to Ksh 50,000.
Beyond the numbers, the chairman highlighted a Sacco that cares for its people. In a move that drew loud applause, Mr. Githinji reported that 23 members aged over 80 received fully paid medical cover through a partnership with CIC Insurance.
“A healthy member is indeed a wealthy member,” Githinji said, urging more retirees over the age of 60 to visit Sacco offices to benefit from these affordable health solutions. Through its partnership with CIC Group, the Sacco offers specialized Co-op Care insurance covers for its members.
Future-Ready
Newfortis is also looking toward the future by modernizing its operations. To keep pace with global technological trends, the Sacco has implemented the T24 core banking system. This upgrade has streamlined mobile banking, allowing members to access loans and services via USSD (*426#) and a dedicated mobile app, ensuring the Sacco remains competitive in a digital-first world.
As it enters its next half-century, the Sacco will focus on sustained recruitment, enhanced digital services, and a renewed commitment to financial literacy.
“The Sacco has remained fully compliant with all regulatory and statutory requirements, and internal controls have been strengthened,” said Mr. Githinji.
The Sacco has also finalized a new governance policy introducing a delegate system. This aligns with the government’s directive requiring large Saccos to transition from traditional AGMs to delegate-based governance. These delegates are expected to play a critical role in steering the Sacco’s strategy and inclusivity moving forward.
Through the governance that has enabled sustainable growth over the years, Newfortis is on a transformational journey emphasizing professionalism, prudent management, and efficient service delivery.
Overcoming Challenges
However, the journey hasn’t been without hurdles. Mr. Githinji acknowledged the “challenging economic environment,” citing rising operational costs and increased taxation as significant pressures. Despite these headwinds, the Sacco’s disciplined approach to risk management and ICT integration has allowed it to remain fully compliant with SASRA guidelines while maintaining steady growth.
The Guest of Honour at the AGM, Hon. Dr. Wycliffe Oparanya, EGH—who was represented by Hon. Patrick Kilemi, the Principal Secretary in the State Department of Cooperative Development—commended the Sacco for its role in national development. He noted that cooperatives like Newfortis remain powerful tools for economic empowerment, fostering equality and shared prosperity.
“Newfortis Sacco has grown from humble beginnings to become a Tier 1 Sacco with a national footprint,” he noted.
Since 1976, Newfortis Sacco has united its members and proven that when people pursue a common goal, the results can be measured in billions. With a vision for the next fifty years anchored on deposit mobilization, environmental conservation, and financial literacy, the Sacco continues to set a high bar for the cooperative sector under the mantra: “because we are better together.”
”NewFortis Sacco stands as a shining example of what Nyeri people can achieve when they come together with a shared vision, discipline and trust in their institutions. The Sacco is supporting families, educating children, empowering entrepreneurs, and stabilizing household incomes,” said Governor Mutahi Kahiga, who also attended the meeting.
Other notable guests at the meeting included EAC Affairs PS Dr. Carol Karugu and Nyeri Town MP Hon. Duncan Maina.
Dividends on Shares 14%
Interest on Deposits 13%
“Our growth continues to be anchored on strong corporate governance, excellent service delivery, and institutional capacity development.”
~ Mr. John Githinji, Chairman.
