Category Archives: FINANCE

How NCBA Group Sponsorship has transformed Lives as they Sponsor Another 100 Students For 4 Years

NCBA Group has announced the sponsorship of 100 high school students for a 4 year period in Kenya’s leading secondary schools. This announcement was made yesterday 26th February 2024 at the NCBA House during the official handover of the various cheques to the partnering Scholarship Foundations drawn from across the country.

The launch was graced by the regional bank’s Group Chairman and leading shareholder Mr. James Ndegwa, Group Managing Director Mr. John Gachora, the Basic Education Director General at the Ministry of Education Dr. Dr. Elyas Abdi, a host of participating foundations such as Palmhouse Foundation, EdumeD Trust, Dr. Choksey Foundation, MPESA Academy, Daraja Academy, KENSAP, SOS Children’s Villages Kenya and WEDCO and several NCBA Sponsored beneficiaries.

Through the NCBA Group Sponsorship program, the bank has successfully supported hundreds of beneficiaries through their high school studies for over a decade now and continues to transform lives in line with their new rallying call of promoting sustainability dubbed: “Change the story”. The beneficiaries present shared their incredible journey from their humble backgrounds from which they were raised and how NCBA stepped in through the foundations to change their story and society at large.

The Group MD noted at the Cheques’ handover, “At NCBA, we share a commitment to foster education and inspire greatness, shape the narrative for the future. I continue to uphold this pledge by driving change through NCBA’s ‘Change the Story’ Sustainability initiative.’ He further added, “We are celebrating the power of education! Through partnerships with organizations like Edumed Trust, Palmhouse Foundation, and others, NCBA is ensuring access to quality education for students across Kenya. Together, we’re shaping a brighter tomorrow!”

NCBA Group Sponsorship Testimonials

Such success stories included Dr. Choksey who had previously been sponsored by the bank, went on to become a doctor and founded the Dr. Choksey Albinism Foundation that now works closely with the bank to support students with albinism to go through school and eliminate the associated stigma. Another success story was of Dr. Mary Mugure who was sponsored through the PalmHouse Foundation. She recounted how she had to resit her KCPE Examinations in 2008 even after securing great results to gain her admission in a national school the previous year. And thanks to the NCBA support, she went on to become a doctor and now serves at the at the AIC Kijabe Mission Hospital.

Besides these phenomenal stories was one shared by the NCBA Group Board Chairman Mr. James Ndegwa of one of the beneficiaries of the bank as quoted; “Victor Wambani is a beneficiary of our scholarship scheme through the Palmhouse Foundation that took him through Alliance High School then later pursued a bachelor’s degree in Utilization and Sustainability of Arid Lands at Laikipia University. He is now self employed running his own real estate company called Valuable Homes Ltd. He is currently our Valuable Customer at the Kakamega Branch”.

NCBA Group Climate Sustainablity

The group has also gone beyond the education program support and now has now embraced the climate action initiative as well. Currently the bank has a million tree seedlings farm in Karura Forest and has contributed to the planting of over 150,000 trees countrywide already. Furthermore, the bank was the first financier to finance the electric vehicles project with a Ksh. 2 billion kitty enabling the uptake of over 5,000 units and now has plans to support the rollout of charging stations across the city and other locations in Kenya.

In conclusion, the bank has many other projects targeting the communities in which it operates its business across the regions. Some of the projects include the Ghetto Classics team comprising of youths drawn from various Nairobi City’s slums and have now embraced music and other entrepreneurial activities. The group provided the entertainment at the event and performed the group’s current brand camapign dubbed “TWENDE MBELE!”. You can watch and listen to it here.

NCBA Group’s Twende Mbele Campaign Song

We say congratulations from Valuable Brands Kenya.

Top 20 Most Profitable Saccos In Kenya

Most Profitable Saccos in Kenya: According to data obtained from the SASRA Sacco Supervision Annual Report 2022, saccos have remained as a very lucrative investment avenue for millions of Kenyans. The Sacco Societies Regulatory Authority (SASRA), the government agency mandated with regulating the sacco movement in Kenya has revealed that they have continued to witness a steady income growth by saccos with the total income significantly increasing based on year to year growth by 11.13% from Ksh. 108.59 billion in 2021 to close the 2022 year at Ksh. 129.68 billion.

Furthermore, the sacco mambers received Ksh.49.14 billion as interest paid on their deposits being over 40% share of the total saccos’ income that year. Another key data set from the report showed that the Deposit Taking (DT) – Saccos made over Ksh. 106.50 billion while the Non Deposit Taking Saccos raised Ksh. 14.18 billion accounting for a paltry 11.75% of the total revenues realized for the year.

With this in mind, these are the top 20 most profitable saccos in Kenya currently.

20 Most Profitable Saccos In Kenya

1. KENYA NATIONAL POLICE DT SACCO

The Society was registered on 20th November 1972 with a membership of 690 and has grown to the current membership of 72,000 with an asset base of KES 49 Billion, a loan portfolio of KES 41 Billion and a KES 29 Billion total deposit. The sacco is currently Kenya’s most profitable sacco with a massive profit of Ksh. 7.94 billions made in 2022.

2. MWALIMU NATIONAL SACCO

The Mwalimu National Sacco has a total asset base of Ksh. 64.06 billion while the sacco’s total deposits stood at Ksh. 47.29 billion. For the year, the sacco made over Ksh. 7.74 billions making it the second of the most profitable saccos in Kenya.

3. STIMA DT SACCO

The Stima Deposit Taking Sacco had a total asset base of over Ksh. 53.78 billion while the total deposits stood at Ksh. 39.43 billion at the time of the report. In terms of profits, the sacco made Ksh. 7.40 billions.

4. HARAMBEE SACCO

1969 at the Office of the President (OOP) a great idea was born. The employees of the Office of the President (OOP) came together and established a merry-go-round. The objective was to create a vehicle to promote a savings culture among themselves. And Harambee Sacco was born. Today, with over Kshs. 37.01 Billion in assets and Kshs. 23.70 billion, the sacco has cemented itself amongst the greats in Kenya gaining over Ksh. 4.79 billion in profits for that year.

5. IMARISHA SACCO

Imarisha Sacco has been in operation for over 44 years serving over 160,000 members spread across the country. Its asset value stood at Ksh. 19.82 billion and the total deposits being Ksh.14.08 billion. The profits for the year was Ksh. 3.32 billions ranking Imarisha at position 5 amongst the most profitable saccos in Kenya.

6. UNAITAS SACCO

Unaitas Sacco ranks at number 6 with its profits for the year under review being Ksh. 3.27 billions with an asset base and total deposits standing at Ksh. 20.40 billions and Ksh. 11.02 billions respectively.

7. TOWER SACCO

Next is Tower sacco with its profits for the year being Ksh. 2.86 billions while the sacco’s total asset base and deposits stood at Ksh. 19.57 billion and Ksh. 14.54 billion respectively.

8. AFYA SACCO

The sacco was registered on 
8th May 1971 by some twenty founder members/promoters. Membership has grown progressively over the past forty years and to date there are over 38,000 members. Afya Sacco’s asset base was Kshs. 20.94 billions, total deposits being Ksh. 15.63 billions and the year recorded profits of Ksh. 2.79 billions.

9. GUSII MWALIMU SACCO

The Gusii Mwalimu Sacco made Ksh. 2.10 billions in 2022 making it 9th of best performing saccos in Kenya. The Sacco’s asset base was Ksh. 12.85 billion and deposits at Ksh.9.2 billion.

10. UNITED NATIONS DT SACCO

The United Nations Deposit Taking Sacco had a total asset base of Ksh. 16.70 billion, the toal deposits stood at Ksh. 12.56 billion with the profits being Ksh. 1.94 billion for 2022.

11. UKULIMA SACCO

The Ukulima Sacco had an asset base of Ksh. 14.66 billion while the total deposits were Ksh. 10.25 billion. Interms of profits, the sacco made Ksh. 1.91 billion.

12. IMARIKA SACCO

The Imarika Sacco had an asset value of Ksh. 11.67 billion with the total deposits being Ksh. 7.48 billion. The profits for the year was Ksh. 1.80 billions.

13. INVEST AND GROW (IG) SACCO

As at 2022, the IG Sacco’s asset base stood at Ksh. 12.96 billion with the total deposits being Ksh. 7.04 billions. The profits were at Ksh. 1.80 billion.

14. WINAS SACCO

The Winas Sacco made a profit of Ksh. 1.76 billions in 2022.

15. TRANSNATION SACCO

Ranking at number 15 is Transnation Sacco which made profits of over Ksh. 1.74 billions in 2022.

16. SOLUTION SACCO

Solution Sacco made Ksh. 1.74 billions.

17. BANDARI SACCO

Bandari Sacco had an asset value of over Ksh. 12.01 billions, total deposits of Ksh.7.54 billion and the profits made were Ksh. 1.59 billion.

18. MENTOR SACCO

The mentor sacco had a total asset base of Ksh. 11.77 billion, deposits stood at Ksh. 8.91 billion while the profits were at Ksh. 1.57 billions.

19. HAZINA SACCO

The Hazina Sacco ranked at 19 with an asset value of Ksh. 12.76 billion, total deposits at Ksh. 9.66 billion and the total profits were Ksh. 1.51 billions.

20. KITUI TEACHERS SACCO

The Kitui Teachers Sacco closeed our ranking of the most profitable saccos in Kenya with profits of Ksh. 1.46 billion.

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