Tabasamu DT Sacco (Deposit-Taking), based in Kwale, saw its turnover increase to KSh 207.3 Million in 2023 from KSh 173.6 Million in 2022, a rise of 19%.
Tabasamu Sacco’s balance sheet grew to KSh 1.144 billion in 2023 from KSh 1.052 billion in 2022, an increase of 8.8%.The Society’s share capital grew from KSh 77.7 Million in 2022 to KSh 94.5 Million in 2023.The Board of Directors recommended payments of dividends on share capital at 10% and interest on members’ deposits at the rate of 4.6%.
“With introduction of the mandatory housing levy, enhanced NHIF and NSSF deductions, and a weakening Shilling in 2023, we saw a deterioration of members’ incomes at the Society and individual levels,” said Felister Mutisya, Tabasamu DT Sacco Board Chairperson.
The Board also sought a resolution from members to maintain the Society’s borrowing powers at KSh 200 million, and that this level will only be increased as a last resort.
Members of the Society are drawn from Teachers, Government Ministries, Parastatals, Non- non-governmental organizations, and the Private Sector. It has the head office in Kwale, with branches in Ukunda, Kinango Samburu, and Lunga Lunga.
See Also: