By Dickson Mwiti
Yetu DT Sacco has reported improved financial results for the year under review, posting a net surplus of Sh 243.7 million, according to disclosures made at its 34th Annual General Meeting held yesterday.
Board Chairman Mark Gitonga told members that the Sacco’s total income rose to Sh 1.27 billion against expenditures of KSh 1.03 billion, reflecting effective cost management and strong income growth.
The Sacco’s asset base expanded to Sh 9.38 billion, an indication of prudent financial stewardship. Mr Gitonga noted that membership remained stable, signaling continued confidence in the institution.He highlighted investments in systems and capacity-building initiatives aimed at improving service turnaround time and enhancing member satisfaction.
“Despite the positive performance, the Sacco faced challenges including loan default risks, rising operational costs, and regulatory uncertainties.The Board responded with strengthened internal controls, enhanced credit management processes, and continuous monitoring of its risk profile,” said Mr Gitonga.
Looking ahead, he added, the Sacco’s strategic priorities include strengthening financial sustainability, enhancing digital and operational efficiency, expanding member services, and upholding strong corporate governance.
“With the continued support of members and stakeholders, the Sacco is well positioned to achieve greater milestones in the years ahead,” said Mr Gitonga.
Chief Executive Officer Mr Denis Kirimi echoed the optimism, noting that the year was both challenging and rewarding amid a tough economic environment marked by high living costs and reduced disposable income.He said the Sacco recorded growth in members’ savings, improved loan portfolio management, and tighter control of operating expenses. He said membership increased during the year, with strong demand for loans despite repayment challenges.
“Recovery efforts were intensified to safeguard members’ savings while balancing support and responsible lending,” said Mr Kirimi.
He added that operational efficiency was boosted through streamlined processes, staff training, and stronger internal controls. Mr Kirimi also outlined plans for the coming year, including strengthening financial sustainability, enhancing loan recovery, embracing technology, growing membership responsibly, and ensuring full regulatory compliance. Members approved dividends of 19 percent on share capital and 13 percent on deposits, reflecting the Sacco’s solid financial footing.
The Board and Management expressed appreciation to members, staff, regulators, and partners for their continued support, reaffirming their commitment to integrity, transparency, and accountability in steering the Sacco forward.
Edited by John Majau
