Stima Sacco Wins Three Prestigious Awards In Kisumu

by Business Watch Team

Kenya’s largest Sacco in asset base and dividends, Stima Sacco, has been ranked as the best in three major categories in a historic annual show in Kisumu City.

Stima Sacco emerged as the best Cooperative movement and Sacco stand, beating all its peers across the country, further testifying to its long-standing tradition of being the best among the rest.

At the same time, Stima Sacco emerged as the second-best financial institution other than a bank. For years, the largest Sacco in the region has played a role in enhancing financial inclusion among Kenyans within the country and those in the diaspora through savings and affordable credit.

The Sacco also emerged as the second-best non-agro-based and financial industry that interprets the current show theme.

“We do not praise ourselves as being the best, but we do the best and let others see and testify. That is what we stand for as a Sacco and always striving to give our members and Kenyans, in general, the best of services,” said Stima Sacco in a statement.

During the last financial year, Stima Sacco approved the payment of a first and final dividend of 15 percent on share capital to its members.

At the same time, Stima Sacco members got interest rebate deposits at the rate of 11 percent for the period under review. The distribution brings the total payout to 3.56 billion shillings in 2022 an increase from  2.99 billion shillings in 2021.

Stima Sacco also reported a strong performance during the period under review, achieving significant growth and progress across all aspects of its business.

Its consolidated deposits increased from 34.2 billion shillings in 2021 to 39.43 billion shillings in 2022 representing a 15 percent growth.

“Our dream is to always give our members the best and we are always striving to make this happen through our various products and services. In the next show in Kisii, we are hopeful to emerge the best too,” said Sacco in a statement.

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