Police DT Sacco Dominates Ushirika Day Awards With Best Managed Sacco Win

• The Kenya National Police DT Sacco has been named best managed Sacco for the fourth year in a row at the Ushirika Day celebrations
• With an asset base of KSh 54 billion and KSh 46 billion in loans, the Sacco was ranked the third biggest Sacco in Kenya by the recent Sacco supervision report
• The Sacco was also feted for investing in community development through education, infrastructure, and environmental initiatives

Muyela Roberto is a business journalist at TUKO.co.ke with over 9 years of experience in the digital media, offering deep insights into Kenyan and global economic trends.

The Kenya National Police DT Sacco has once again been recognised as the premier financial institution in Kenya, securing the coveted title of Best Managed Sacco for the fourth consecutive year at the annual Ushirika Day celebrations. The award was presented by the Cooperative Alliance of Kenya.

Kenya National Police Sacco leads in financial excellence

With an asset base of KSh 54 billion, a substantial loan portfolio of KSh 46 billion, and total deposits amounting to KSh 32 billion, the Police DT Sacco was recognised for consistently demonstrating exceptional financial performance and unwavering commitment to serving its members.

The Sacco was ranked the third biggest Sacco in Kenya by the recent Sacco supervision report. Mwalimu Sacco and Stima Sacco were ranked as first and second with assets of KSh 66 billion and KSh 59 billion respectively.

Solomon Agutsa, the CEO of Kenya National Police DT Sacco, emphasized the organization’s dedication to providing unparalleled financial services.

“We have strived to make banking accessible and efficient for our members by offering fast loan processing and cutting-edge digital platforms,” he stated.

Adding:

“This recognition is a testament to our unwavering commitment to their financial well-being and the trust they place in us.”

The Police DT Sacco has played a pivotal role in empowering its members by offering a wide range of financial products and services, including savings accounts, loans, and investment opportunities.

The Sacco's innovative approach to digital banking has enabled members to conveniently access their accounts from anywhere, anytime, saving them time and effort.

In addition to its financial achievements, the Police DT Sacco has also been actively involved in various community development initiatives.

The Sacco has supported education programs, infrastructure development, and environmental conservation efforts, demonstrating its commitment to giving back to the community.

Community development at core of Police Sacco

About a month ago, the Sacco constructed several classrooms at a Nakuru school and also built a multipurpose hall at the learning institution.

Cooperative Cabinet Secretary Wycliffe Oparanya said:

"It is a good day to take stock of our achievements as a movement and to recognize the role that cooperatives play in economic growth, social development, and the empowerment of communities across our nation.

In acknowledgement of the Kenyan cooperative movement is the largest in Africa and the 7th largest in the world, the government has prioritised cooperatives in its Bottom-Up Economic Transformation Agenda (BETA) due to their ability to pool resources together for member refinancing and for aggregation in marketing and investment."

Oparanya also warned Saccos against the practice of taking loans from banks to finance dividend payments, especially when financial records show losses.

Instead, he emphasised that Saccos should not declare dividends until they are financially stable.

"You have made a loss, and then you borrow from banks to pay dividends. This is wrong. You are not supposed to declare dividends," Oparanya stated.

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