Tower SACCO Society Limited has officially ascended into the elite ranks of Kenya’s financial cooperatives, marking its 50th anniversary with a record-breaking performance that places it fifth among the nation’s Deposit-Taking SACCOs.
Despite a 2025 characterized by high inflation and a biting cost of living, the SACCO reported a 23% growth in total assets—surpassing the KSh 34.5 billion mark—during its Annual General Meeting (AGM) held at the Ol’Kalou Catholic Parish Grounds.
Addressing members both physically and virtually via diaspora platforms, Board Chairman Peter M. Ngugi acknowledged the economic “headwinds” of the past year. However, he noted that the Society remained unshaken, driven by member discipline and institutional integrity.
The SACCO’s membership base saw a massive 29% surge, jumping from 192,270 in 2024 to nearly 248,000 by the end of 2025. This influx of members was mirrored by a 23% rise in savings and share capital, which now stands at KSh 27.8 billion.
“This performance is a testament to the growing public confidence in our brand,” Mr. Ngugi said. “Even as households faced uncertainty, our members prioritized savings as the foundation of their financial stability.”
In a move that will cheer investors, the Board recommended a dividend of KSh 20 per share on share capital and a 13% rebate on non-withdrawable deposits.
The Chief Guest, Patrick Nyaga, Group MD and CEO of CIC Insurance Group, lauded these returns. He noted that the 13% yield significantly outperforms traditional real estate (4-10%) and many high-balance bank deposits (7-12%), describing it as a “very, very good return” in the current market.
The Society’s aggressive expansion strategy bore fruit in 2025, with new branches in Thika, Nyeri, and Mwisho wa Lami contributing significantly to the bottom line. Looking forward, the SACCO is conducting feasibility studies in Eldoret, Kajiado, Mombasa, and Kenol as it eyes a bold goal: an KSh 80 billion asset base by 2030.
To support this growth, members are being urged to pivot toward digital platforms. Currently, over 95% of the SACCO’s transactions are conducted through the mobile app, USSD code *655#, and internet banking.
The AGM, themed “Embracing Integrity for Sustainable Growth and Member Trust,” also highlighted the Society’s commitment to education. The SACCO’s scholarship program currently supports 20 bright but needy students, with its first cohort achieving a 100% transition rate to university.
While the meeting addressed the government-mandated transition to a delegate system for large cooperatives—a move facing some local resistance—the leadership emphasized ongoing dialogue with members to ensure a smooth evolution.
As Tower SACCO prepares for its official Golden Jubilee celebrations on September 15, 2026, the mood remains one of cautious optimism and a firm commitment to the “invisible currency” of the cooperative movement: integrity.
