Dimkes DT Sacco, located along Kiambu Road, saw its net operating surplus increased by 24% from KSh 100.29 million in 2022 to KSh 124.6 million in 2023.
- •In addition, the Society reserves grew by 31% to reach KSh 316.3 million in 2023 from KSh 241.3 Million in 2022.
- •The Society’s balance sheet grew by 15% to close at KSh 2.85 Billion in 2023 from KSh 2.46 Billion in 2022.
- •Membership of Dimkes DT Sacco increased to 33,646 from 31,315 in 2022 while the Society’s Share Capital has increased to KSh 283.8 Million in 2023 from KSh 249.7 Million in 2022.
In 2023, Dimkes DT Sacco saw total loans disbursed increase to KSh 1.744 Billion compared to KSh 1.462 Billion, a growth of 19%.
“The Society continues to reap from mobile loans where 20,655 loans disbursed amounting to KSh 312.4 Million in 2023 compared to KSh 180.6 Million in 2022, translating to a 73% growth on the product update,” Dimkes DT Sacco Chairlady Caroline W. Gikonyo told members during a recent Annual General Meeting (AGM).
“We operated in a tough economic environment in 2023 characterized by growing inflation, hitting a high of 9%, unprecedented changes, and regulations on business operations, together with a volatile Kenya Shilling exchange rate against the US Dollar. All these factors impacted our operations,” said Gikonyo.
The Society has set its sights on growth in 2024, with plans to implement its Core Banking platform in Q1, and the registration and operationalization of an insurance agency in Q2.
Dimkes DT Sacco was established in 1999 and rebranded in 2010 as an outreach deposit-taking institution. What started as an exclusive mothers’ union (ladies) Sacco with member deposits as low as KSh 500.00 has grown into an institution with a portfolio of KSh 2 Billion and a membership of more than 31,000.
ALSO READ:Tabasamu DT Sacco Turnover Rises by 19% to KSh 207.3 Million
