ITEN, May 23, 2025 – – Prime Time SACCO has recorded a strong performance for the 2024 financial year, crossing the KSh 1 billion asset mark and officially joining Kenya’s “billionaires’ club”. Total assets grew to KSh 1.029 billion in 2024, up from KSh 940.8 million the previous year—a milestone driven by a 16.49 percent increase in the loan portfolio, which reached KSh 612 million.
Membership also rose by 6.44 percent, with total members standing at 4,790—an indication of the SACCO’s growing trust and relevance among Kenyans. Despite a challenging economic environment, member deposits increased to KSh 791.3 million by 31 December 2024, while non-performing loans saw a significant decline.
“These positive trends reflect the strength of our operations and the trust our members continue to place in us,” said Thomas Rotich, Chairman of the Board of Directors, speaking during the 27th Annual Delegates Meeting held recently at Iten Vocational Training Centre in Elgeyo-Marakwet County.
Technological investment has played a key role in enhancing Prime Time SACCO’s operational efficiency, resulting in improved profitability and securing the SACCO’s long-term financial stability. Operating on internally generated funds, Prime Time SACCO has strengthened its financial position and recently reduced interest rates on loans to make them more affordable for members. The SACCO Board also raised the loan multiplier to four times members’ savings, allowing access to larger loans.
“We have made tremendous progress, and we have every reason to smile. Together, we will continue building a strong and better future for all,” added Rotich.
Among the key milestones achieved in 2024 was the approval by the SACCO Societies Regulatory Authority [SASRA] to upgrade the Biretwo satellite office to a fully-fledged branch—a significant step in expanding outreach and improving service delivery. The SACCO is also developing a five-year strategic plan focused on sustainable growth in membership, loan portfolio, and overall financial resilience.
Reaffirming the SACCO’s commitment to high standards of financial integrity, Rotich noted that exceptional service delivery has established Prime Time SACCO as a financial pillar for thousands of members.
In recognition of member commitment and savings culture, the SACCO plans to host a “Best Savers” breakfast to honour top savers, the best-performing institution, and high-achieving delegates.
Rotich praised the SACCO management, led by CEO CPA Nahashon Kimutai, for their leadership in improving operational efficiency and enhancing member satisfaction.
Thanks to its strong financial performance, Prime Time SACCO has announced improved annual returns. Interest rebates on members’ deposits rose to 9.01 percent—up from 8.5 percent in 2023—while dividends on share capital increased to 5 percent from 4.5 percent, bringing the total payout to KSh 49 million.
Looking ahead, Rotich revealed plans to launch a SACCO mobile app to streamline communication and simplify transactions for members.
Loice Murrey, TSC County Director and Chief Guest at the delegates meeting, commended the SACCO’s leadership for its visionary governance and encouraged continued innovation through technology in service delivery.
Founded in 1995 by community-focused pioneers, Prime Time SACCO is known for its strong governance and commitment to empowering members through a wide range of financial services, including development loans, emergency loans, school fees loans, FOSA loans, and microcredit.
“At Prime Time SACCO, we are not just a financial institution; we are a community dedicated to nurturing growth, fostering prosperity, and ensuring a brighter future for all our members. Join us and be part of this transformative journey,” said CEO CPA Nahashon Kimutai.
https://thecooperator.news/unlocking-cross-border-remittances-a-new-chapter-for-saccos-in-kenya/
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