Latest SASRA Sacco Supervision Annual Report 2022 highlights Saccos as the best investment avenues for people eager to grow their money.
The average interest rates paid by the Regulated SACCOs on member deposits in 2022 marginally increased to 6.92% in 2022 from 6.86% paid in 2021.
The DT-SACCOs’ segment paid the highest rates on their members’ savings at 7.11% in 2022 compared to the NWDT-SACCOs which paid a mean interest rate of 7.10%.
These returns on members’ savings were however higher than the interest rates paid by commercial banks on savings which averaged 3% during the year 2022, and thus cements the dual comparative edge of savings in SACCOs which not only earns interest but also applied as collateral against loans advanced to members.
In addition, the Regulated SACCOs paid their members a return on their share capital at a mean rate of 10.47% in 2022 compared to a mean rate of 9.87% in 2021.
The DT-SACCOs segment paid dividends on the members’ shares at a rate of 10.41% in 2022 compared to a rate of 9.44% in 2021; while the NWDT-SACCOs’ segment on the other hand paid a return on the members’ shares as dividends at a rate of 10.92% in 2022 from a rate of 10.55% in 2021.
