Stima Sacco shareholders are set to benefit from a Ksh2.3 billion payout in dividends and interests on deposits following improved performance of the society in 2019.
Addressing the 46th Annual General Meeting (AGM) at the Kenya School of Monetary Studies, Stima Sacco National Chairperson Rebecca Miano said the improved payouts demonstrates the success of its customer centric strategy.
“We believe that these are good returns on members’ investments in the Society. As a responsible corporate entity, we are also committed to embracing sustainable practices across our Sacco so as to support our long-term growth,” said Mrs. Miano.
Stima Sacco posted a pre-tax profit of Kshs. 1.03 billion in 2019 compared to Kshs. 972.25 million in 2018, a growth of 6 per cent.
The Society’s membership increased by 17,545 (15 per cent) from 114,071 in 2018 to 131,616 in 2019 as a result of active recruitment drive coupled with a significantly improved brand equity during the year under review.
Stima Sacco CEO Chris Useki disclosed that the Sacco was in the process of rolling out more customer focused products and services aimed at empowering members.
The society, which has been pursuing an ambitious digitization programme, has also embarked on investment in a biometric member recognition system to curb the risk of identity theft alongside installation of fraud monitoring system to ensure security of its resources.