USHINDI PAMOJA
Prime Time Sacco has made great strides in the fiscal year 2024, achieving impressive growth and propelling itself into the billionaires club. The total assets crossed the billion mark, reaching Ksh1.029 billion in 2024—up from Ksh940.8 million in 2023. This growth was driven by a 16.49% increase in the loan portfolio, which hit Ksh612 million.
Membership also posted an upward trend, growing by 6.44% to reach 4,790, a pointer to the Sacco’s commitment to delivering value to its members. Amidst a challenging economic environment witnessed in the country, the Sacco members contributed to an increase in total deposits, which stood at Ksh791.3 million by the 31st December 2024, while non-performing loans have significantly declined.
“These positive trends reflect the strength of our operations and the trust our members continue to place in us,” said Mr. Thomas Rotich, Chairman, the Board of Directors. He spoke during the 27th Annual Delegates Meeting held at Iten Vocational Training Centre.
Investment in technology has enhanced Prime Time’s operational efficiency, resulting in a notable increase in profitability and ensuring long-term stability for the Sacco. Operating with its own funds, Prime Time Sacco is strengthening its financial position while also reducing interest rates on loans, making them more affordable and accessible for members. Notably, the Sacco Board recently increased the loan multiplier factor to four times one’s savings, enabling members to access larger loans.
“We have made tremendous progress, and we have all the reasons to smile. Together we will continue building a strong and better future for all,” said Mr. Rotich.
Key milestones for the Sacco last year include receiving approval from the Sacco Societies Regulatory Authority (SASRA) to upgrade the Biretwo satellite office to a fully-fledged branch, a crucial step in expanding services to the community. The Sacco is also developing a five-year strategic plan focused on growth sustainability in membership, loan book, and financial resilience.
Mr. Rotich reiterated the Sacco’s commitment to high standards of financial integrity, stating that excellent service delivery has established Prime Time Sacco as a financial pillar for thousands of members.
To celebrate and recognize members’ achievements, the Sacco plans to host a best-savers breakfast to reward top savers, the best-performing institution, and the best-performing delegates.
Mr. Rotich commended the Sacco management team led by CEO CPA Nahashon Kimutai for enhancing operational efficiency and member satisfaction.
With strong financial results, Prime Time Sacco announced improved annual returns, paying interest rebates on members’ deposits at 9.01%, an increase from 8.5% the previous year. Dividends on members’ share capital rose to 5%, up from 4.5% in 2023, while the total payout amounted to Ksh49 million.
Looking ahead, Mr. Rotich announced plans for a Sacco App aimed at enhancing communication and simplifying transactions for members.
Madam Loice Murrey, TSC County Director and chief guest, praised the Sacco’s leadership for their visionary approach, embracing good governance and encouraged them to continue leveraging technology in service delivery.
Established in 1995 by visionary leaders focused on community development, Prime Time Sacco prides itself on a robust governance structure and is committed to empowering members through various services, including development loans, emergency loans, school fees loans, FOSA loans, and microcredit loans.
“At Prime Time Sacco, we are not just a financial institution; we are a community dedicated to nurturing growth, fostering prosperity, and ensuring a brighter future for all our members. Join us and be part of this transformative journey,” stated CEO CPA Nahashon Kimutai.
Chief Executive Officer
Mission
To be the premier financial institution in the region and beyond.
Vision
To improve the welfare of members through the provision of quality, efficient, innovative and market driven financial services.
Core Values
Integrity
Transparency and accountability
Commitment
Efficiency
Teamwork
Creativity and innovation
