Windfall for savers as Saccos give double-digit dividends

Cooperatives CS Simon Chelugui (right) hands a present to Abdullahi Shariff during Harambee SACCO's AGM on February 20, 2023. [Boniface Okendo, Standard]

Shareholders of Savings and Credit Co-operative Societies (Saccos) are reaping the benefits of record payouts as the credit societies announce surprise higher dividends, having weathered a difficult year to post bumper profits and surpluses.

A majority of Saccos have made higher cash distributions for the year ending December amid improved profitability, even as the economic road ahead remains jittery, according to an analysis by Standard Business.