Kenya National Police DT SACCO sturdy growth points to better returns ahead

By Correspondent

Ahead of their Golden Jubilee celebrations this year, the Kenya National Police DT SACCO financial disclosures tell the success story of one of the key players in the country’s cooperative movement.

The SACCO has been posting a steady rise in both assets base, dividends as well as interest on rebates earned by members in the past five years.

With a history of good financial performance, the members can look ahead to mark 50 years since the establishment of the institution with hope for even better returns.

“Kenya National Police DT SACCO has a long and illustrious history, dating back to 1972, and this year marks the society’s 50th anniversary. This will be a moment to reflect on what we have been able to do over the last five decades and also look into the future,” National Chairman, Mr. David Mategwa said during the Annual Delegates Meeting at

Cabinet Secretary for the Ministry of Interior and Coordination of National Government Hon. Dr. Fred

Matiang’i gives his address during the SACCO’s 2022 ADM at the Serena Hotel, Nairobi.

Serena Hotel.

The SACCO has been posting a steady rise in key growth metrics such as assets portfolio in the last five years with 2021 closing at KSh44 billion up from KSh39.1 billion a year ago. In 2017, the SACCO’s assets were just below KSh25 billion. Last year’s growth is attributable to the expansion of the loan book by 14.4 percent to KSh37.3 billion as well as a 40 percent jump in returns from investment in government securities that earned the SACCO KSh350 million in 2021.

Overall, society’s total income increased by 16.7 percent to KSh7 billion compared to the KSh6 billion recorded in 2020.

Subsequent to the good performance, the Board has recommended the payment of dividends on share capital at the rate of 17 percent totaling to KSh516 million as well as interests on deposits at the rate of 10.8 percent translating to KSh2.4 billion.

In a move geared to encouraging the saving culture, Mr. Mategwa said the SACCO will reward its top savers with a trip to US Washington D.C., to benchmark with best-managed cooperatives in the first world.

Kenya National Police DT SACCO National Chairman Mr. David Mategwa has a word with the Principal Secretary for the State Department of Cooperatives, Ministry of Industry, Trade and Cooperatives Mr. Ali Noor Ismail, Inspector General of Kenya National Police Service, Mr. Hillary Mutyambai and DIG Mr. Edward Mbugua. Kenya National Police DT SACCO National Chairman Mr. David Sohelo Mategwa addresses guests and delegates during the 2022 ADM held at the Serena Hotel in Nairobi.

Principal Secretary for the State Department of Cooperatives, Ministry of Industry, Trade and Cooperatives Mr. Ali Noor Ismail.

undertaking annual reviews of its 20202024 strategic plan and has earmarked ICT investments as one of its key growth plans. Mr. Mategwa said, “ICT being a key driver of business was also reviewed to ensure it continues to meet strategic and operational goals of the society.”

In the 12-month period, the SACCO’s Premier loan product was the most sought-after, accounting for 43 percent of services offered. A total of KSh13.6 billion was disbursed under Premier loan followed closely by Mega loan at KSh6.2 billion by December 2021.

While lauding the SACCO management

National Vice Chairman Mr. David Kangogo addresses delegates and invited guests. Inspector General of Kenya National Police Service Mr. Hillary Nzioki Mutyambai, addresses the delegates during the ADM.

for the good results, the Director of Cooperatives, Nairobi County, Ms. Dolphine Aremo, said members are more interested in the annual returns from their savings.

Madam Aremo noted the SACCO is in a position to give back to its members due to the fruitful sensitization programs it has been undertaking in close liaison with the delegates and her office.

“We are happy to be the supervisors of Kenya National Police DT SACCO. As a role model, it has been extremely easy to work with you,” said the Director.

Kenya National Police DT SACCO National Treasurer Mr. Amos Tingos gives his report during the ADM. Deputy Inspector General of Police Mr. Edward Mbugua

Director of Cooperatives, Nairobi County, Madam Dolphine Aremo.

Supervisory Chairman Mr. Erick Kamaitha presents the Supervisory report at the ADM attended by the most honorable guests and delegates.

National Chairman David Mategwa, National Vice Chairman David Kangogo, National Treasurer Amos Tingos, Hon. Sec Jeremiah K.L. Korooi, Directors Joakims Awuondo, Andrew Koech, Jamleck Gichobi, John Okumu, Eric Kamaitha, Eric Tumwet and Elizabeth Nyagah pose for a photo during the ADM A section of the delegates concentrate on the released financial statements during the ADM.

The Inspector-General of Police, Mr. Hillary Mutyambai, said: “Performance of this SACCO has been very steady. We can see this in the share payments that have been increasing. The SACCO is making timely payments.”

Mr. Mutyambai expressed confidence with the board of directors as they steer the society to even better performances to the benefit of the savers.

To drive membership, the IG encouraged the SACCO to also consider onboarding the lowest savers and motivating them with a view to nature the saving culture in the country.

While tipping the society to explore for investment opportunities in the housing sector, the Chief Guest, Dr. Fred Mataing’i, Cabinet Secretary Ministry of

At the moment, the society is undertaking annual reviews of its 20202024 strategic plan and has earmarked ICT investments as one of its key planks of growth.

The Cabinet Secretary for the Ministry of Interior and Coordination of National Government Dr. Fred Matiang’i gifts one of the top female savers Ms. Beatrice Kiraguri during the 2022 ADM in Nairobi.

Interior and Coordination of National Government said such a plan could significantly improve their welfare.

“Start a process to see how we can use your savings in partnership with the government to improve our police housing program. We must use these resources and this opportunity to improve your well-being and the lives of our police officers across the country,” said Dr. Matiangi.

The CS urged SACCO to initiate an engagement with the National Treasury with a view to investing directly in new projects that will enhance the housing programs in the country.

The society is currently integrating Environmental, Social, and Governance (ESG) principles into its operations with a view to ensuring that the benefits of the cooperative are realized in a fair and responsible manner.