SASRA RANKING OF SACCOS BY TOTAL INCOME-2023
The latest SACCO Supervision Annual Report for 2023 has revealed the country’s most profitable Saccos.
Regulated SACCOs experienced a 12.94% increase in total income, reaching Kshs 136.30 billion in 2023 from an income of Kshs 120.68 billion in 2022. This growth in total income far surpassed the 9.17% increase in total assets, indicating that Saccos effectively utilized their assets to generate more income.
The largest proportion of the total income, amounting to Kshs 112.15 billion or 82.28%, came from loans in 2023.
Income from investments saw a 27.56% increase from Kshs 8.17 billion in 2022 to Kshs 10.42 billion in 2023. This demonstrates Saccos’ continued diversification of investment portfolios towards government securities, money market funds, and placements with other financial institutions.
The report also highlights a 66.32% growth in operating income, which includes income from providing financial services such as transaction fees, premiums, membership fees, and issuance of cards. This income rose from Kshs 8.26 billion in 2022 to Kshs 13.73 billion in 2023.
As a result of this income growth, members received higher dividends and rebates. Interest expenses paid on deposits and dividends to members increased by 12.06% in 2023 to Kshs 55.06 billion from Kshs 49.14 billion in 2022, accounting for 40.40% of total income.
Furthermore, SACCOs paid higher interest rates on members’ deposits, averaging 7.45% in 2023 compared to 6.92% in 2022. The average dividend rate also increased to 10.92% in 2023 from 10.47% in 2022, both surpassing the rates paid by commercial banks.
Comparing DT-SACCOs and NWDT-SACCOs, DT-SACCOs paid a 10.79% dividend rate in 2023, up from 10.41% in 2022, and a 7.70% interest rate on deposits, up from 7.11% in 2022. Meanwhile, NWDT-SACCOs paid an 11.06% dividend rate in 2023, up from 10.92% in 2022, and a 7.20% interest rate on deposits, up from 7.10% in 2022.
Below is the ranking of the most profitable SACCOs based on the latest SASRA report:
| NAME OF DT-SACCOÂ Â Â Â Â Â Â Â Â Â Total Income (Ksh Billions) |
| 1.      STIMA DT   Ksh 8.95 |
| 2.      KENYA NATIONAL POLICE DT   Ksh 8.86 |
| 3.      MWALIMU NATIONAL  Ksh 8.38 |
| 4.      HARAMBEE    Ksh 5.46 |
| 5.      IMARISHA  Ksh 3.74 |
| 6.      UNAITAS  Ksh 3.54 |
| 7.      TOWER Ksh 3.49 |
| 8.      AFYA  Ksh 2.62 |
| 9.      UNITED NATIONS DT  Ksh 2.33 |
| 10.  GUSII MWALIMU   Ksh 2.32 |
| 11.  TRANSNATION  Ksh 2.09 |
| 12.  APSTAR  Ksh 2.02 |
| 13.  IMARIKA  Ksh 1.96 |
| 14.  WINAS        Ksh 1.91 |
| 15.  BANDARI DT    Ksh 1.90 |
| 16.  INVEST AND GROW    Ksh 1.88 |
| 17.  MENTOR  Ksh 1.83 |
| 18.  HAZINA     Ksh 1.77 |
| 19.  SOLUTION      Ksh 1.73 |
| 20.  BORESHA  Ksh 1.63 |
| 21.  KITUI TEACHERS    Ksh 1.61 |
| 22.  KIMISITU   Ksh 1.49 |
| 23.  NEWFORTIS Ksh 1.45 |
| 24.  OLLIN Ksh 1.37 |
| 25.  COSMOPOLITAN  Ksh 1.35 |
| 26.  SHERIA  Ksh 1.26 |
| 27.  SAFARICOM  Ksh 1.26 |
| 28.  KENYA BANKERS  Ksh 1.26 |
| 29.  PORTS DT  Ksh 1.24 |
| 30.  AMICA  Ksh 1.11 |
| 31.  UNISON   Ksh 1.07 |
| 32.  MHASIBU (NWDTS)  Ksh 1.07 |
| 33.  BINGWA  Ksh 1.02 |
| 34.  FORTUNE Ksh 1.01 |
| 35.  YETU Ksh 0.92 |
