Ng’arisha Sacco has started paying Sh192 million in dividends.
During the annual delegates meeting on Tuesday, members were informed of an increased pay in dividends owing to the positive saving culture. They are receiving dividends at 12.32 per cent rate.
Sacco board of directors chairman Benedict Simiyu said, "Interest on members rebates grew to Sh192,894,805 in the year 2021 from Sh163,630,286 in 2020."
"Following the positive results in 2021, the board recommends payment of rebates on deposits and dividends at the rate of 12.32 and 13 per cent respectively."
Simiyu said members' continued trust and support bolstered the Sacco's progress.
"Our focus on becoming an increasingly agile, resilient and future-ready Sacco has helped us overcome changing business challenges in a globally disruptive environment," he said.
Ng'arisha Sacco membership has grown from 19,413 in 2020 to 20,489 in 2021.
The growth has been attributed to the provision of good services and good relationships among all Sacco stakeholders.
Simiyu urged Kenyans to join Ng'arisha Sacco and be part of its success.
"Be part of our growth as the future is luminous. Ng'arisha is one of the best Saccos and we guarantee you good services," he said.
Last year, the Sacco in Bungoma recorded an 11 per cent growth in revenue in the year ending December 2020, despite the effects of Covid-19.
Simiyu had said despite the pandemic, the entity realised a gross revenue of Sh627.6 million compared to Sh563.1 million in 2019, translating to a growth of 11.5 per cent.
