IG SACCO approves Ksh.1.9 billion for 2022/23 fiscal year
Invest & Grow (IG) SACCO has approved an operating budget to the tune of Ksh.1.9 billion for next fiscal year compared to the current year’s Ksh.1.29 billion.
IG SACCO recorded a net profit of Ksh.1.53 billion for the last financial year that ended December 31, 2021 compared to Ksh.1.3 billion in the previous financial year.
Speaking during the event held in KAKAMEGA county and attended by over 300 invest and grow delegates, Kennedy Keya, chairman of the SACCO said announced members’ dividend on share capital from 15% to 17%.
Co-operatives Alliance Kenya Chief Executive, Daniel Marube said they will engage the national government to encourage saving culture and advancement in the digital platform.
lG Sacco Society Ltd (formerly KATECO) draws its membership from teachers, civil servants, private Company employees, county governments employees, business people, Companies, churches, investment groups among others.
Sacco offers front office services activity (FOSA) and BOSA services and Products, where members contribute minimum of Ksh.3,000 monthly shares to access loans with low interest rate.