Centenary Deposit-Taking Sacco, based in Meru County, will be paying back to its members a total of KSh 95,877,937.00 in the form of Dividends on Share Capital, Interest on Members’ Deposits, and return on Pepea Shares.
- •Centenary Sacco Board of Directors has proposed dividends on FOSA Shares at the rate of 12%, Pepea Shares at the rate of 12%, and Interest on Members’ Deposits at an average rate of 10%.
- •While 2023 was a tough year, Centenary Sacco reported growth in membership which was up by 3,391 from 49,832 members in 2022 to 53,326 members in 2023.
- •The Sacco’s balance sheet grew by KSh 61.1 Million from KSh 1,323,053,279.00 in 2022 to KSh 1,384,062,914.00 in 2023.
“Our Sacco management has diligently worked to reduce loan loss provisioning resulting from non-serviced loans, which has significantly improved performance and returns on member investments, “said Board Chair Joseph Magambo.
The Sacco’s members’ deposits increased by KSh 23.2 Million to KSh 980,695,767.00 in 2023 from KSh 957,533,323.00 in 2022, Share Capital by KSh 8.2 Million to KSh 138,535,733 in 2023 from KSh 957,533,323.00 in 2022, Revenues by KSh 20.5 Million and Reserves by KSh 32.7 Million to KSh 163,239,089.00 in 2023 from KSh 130,558,491.00 in 2022.
Established in the late 1970s as the Diocese of Meru Savings and Credit Co-operative Society by the late Fr Salesius Kirianthia, the Meru County-based Centenary Sacco was later registered in 2003. It has grown its membership from 800 members in 2008 to over 30,000 members to date.
ALSO READ: SACCOs Resume Paying Fat Dividend Cheques After Two-Year Drought
