Tower Sacco, one of Kenya’s leading deposit-taking cooperatives, has reported remarkable growth in membership, deposits, and loan uptake, cementing its place as a pillar of financial inclusion and grassroots economic empowerment.
Speaking during a Special General Meeting (SGM) held on Saturday at AC Olkalou comprehensive Primary school Grounds in Nyandarua, Sacco Chairman Peter M. Ngugi revealed that membership had surged by 18% over the past year, rising from 249,511 in August 2024 to 294,423 by August 2025.
Deposits and share capital grew by a substantial 24.2%, from KSh21.45 billion to KSh26.65 billion, while the Sacco’s loan book expanded by 22% to reach KSh25.47 billion within the same period.
“Every shilling saved in this Sacco is an investment for the future. Our growth is proof of the confidence members continue to place in us despite a tough economic environment,” said Ngugi.
The Sacco announced unaudited half-year results showing a turnover of KSh2.37 billion by June 2025, up 32% from the previous year, and a surplus of KSh1.48 billion, marking a 27% rise.
The cooperative has also expanded its footprint with new branches in Nyeri, Thika, and Mwisho wa Lami, all of which have recorded positive growth since opening earlier this year.
Tower Sacco is midway through implementing its 10-year strategic plan (2021–2030), which targets an asset base of KSh80 billion by 2030. Ngugi expressed confidence that this goal is achievable, citing resilience, member loyalty, and innovation as key drivers.
A notable highlight of the meeting was the Sacco’s rapid adoption of technology. By August 2025, 97% of deposit transactions and 83% of withdrawals were conducted digitally, reducing reliance on over-the-counter services.
“Our members have embraced technology, which allows them to access services conveniently and at lower costs,” Ngugi added.
In response to member feedback, Tower Sacco recently launched the ‘Smart Savers’ account, a flexible savings product that earns interest and allows deposits and withdrawals at any time.
The Sacco is also venturing into green energy financing, partnering with providers to help members acquire affordable solar energy systems. Through Towertech Insurance Services, members can access affordable health, motor, and property insurance, supported by a BIMA loan facility for premium financing.
Guest of Honor Philip King’ori, Nyandarua County Director of Cooperatives, praised Tower Sacco’s strong governance and compliance with regulations set by the Sacco Societies Regulatory Authority (SASRA).
“Tower Sacco is not just a cooperative, but a symbol of financial empowerment and shared prosperity. Its performance demonstrates how visionary leadership, member loyalty, and innovation can transform lives,” King’ori said.
He further commended the Sacco for maintaining transparency, sound financial management, and partnerships with both county and national government agencies.
As Tower Sacco approaches its 50th anniversary in September 2026, both the Board and government representatives urged members to celebrate its rich legacy while focusing on future growth.
“From its roots as Nyandarua Teachers Sacco in 1976, Tower Sacco has grown into a financial powerhouse. The Jubilee will be a moment to honor our founders and chart a new path forward,” Ngugi said.
With a growing asset base, increased digital adoption, innovative products, and a clear roadmap to 2030, Tower Sacco continues to stand out as a beacon of cooperative success in Kenya’s financial sector.
As King’ori concluded: “This institution is more than just a Sacco; it is the engine of our local economy, a source of stability for families, and a beacon of hope for communities.”
