The Tower Sacco which is headquartered in Ol Kalou, Nyandarua County has paid out a total of Sh. 2.72 billion to its members. This payout has included a return payout to Sacco members for the year 2024 at the rate of 20 per cent dividends on share capital and 13 per cent rebates on deposits.
Dividend on share capital was paid out at Sh.20 per share which totaled Sh. 311,300,703 at 20 per cent. Rebates on non-withdrawable deposits were paid out at Sh. 2,060,893,193 at 13 per cent.
This payout has effectively propelled the Tower Sacco into one of the highest-paying dividends and rebates Sacco in the country for the year full year 2024. The payout was announced during the Sacco’s 49th annual general meeting that was held in Ol Kalou on January 25, 2025.
During the general meeting, the Sacco announced that its total assets had grown to Sh. 28 billion in the full year 2024 from Sh. 23.2 billion in the previous year. This was a growth of Sh. 4.8 billion which was equivalent to 21 per cent. At the same time, the total loans that were extended to members expanded by 25 per cent year on year.
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“During the year, the Sacco disbursed loans amounting to Sh. 15,484,084,731 compared to Sh. 12,506,021,844 in the previous year. This was a growth of Sh. 2,978,062,887. The total loans with to members as at 31 December 2024 was Sh. 22,601,116,231 compared to Sh. 18,084,401,929 in the year 2023. This was a growth of Sh. 4,516,714, 302,” the Sacco announced.
The Sacco realized total revenue amounting to Sh. 4.3 billion compared to Sh. 3.5 billion in the year 2023. This was a growth of Sh. 839 million equivalent to 24 per cent. Surplus before payment of rebates amounted to Sh. 2.9 billion compared to Sh. 2.4 billion in the previous year 2023. This was a growth of Sh. 523 million equivalent to 22 per cent.
