Stima DT Sacco, Kenya’s third-largest Sacco, has unveiled an ambitious growth plan under its Strategic Plan 2025-2029, aiming to increase its assets by Ksh 47 billion. With a bold commitment to embracing technological advancements, the Sacco plans to inject Ksh 500 million into this growth strategy, with a significant focus on enhancing technology infrastructure.
According to Chief Executive Officer Dr. Hassan Gamaliel, the Sacco is keen on leveraging data analytics and artificial intelligence (AI) to streamline operations, particularly in transaction management and loan processing. “The world has changed, and we have gone into data analytics, AI. We are incorporating that into our daily operations, and we are confident that in five years, we will have met our ambitious targets,” said Dr. Gamaliel.
The Sacco’s growth plan is comprehensive, targeting a revenue increase from Ksh 10.2 billion to Ksh 19.3 billion and boosting its membership from 220,650 to 385,000 by 2029. To achieve these goals, Stima DT Sacco plans to expand its network of agents across the country from 80 to 1,000, citing agents as a cost-effective and efficient way to reach more members.
In addition, Stima DT Sacco intends to enhance its operational efficiency, aiming for a 99% efficiency rate, and grow its core capital from Ksh 13 billion to Ksh 24 billion. By the end of the strategic period, the Sacco plans to expand its branch network from 12 to 27, with a target of opening three branches annually.
Chairman Dr. Joseph Siror emphasized that the plan represents Stima DT Sacco’s commitment to not only adapting to change but also setting new benchmarks for excellence in the cooperative sector.
The Sacco’s diversification strategy will also see a reduction in reliance on interest income, currently accounting for 78% of earnings. With significant investments in treasury bonds and bank deposits, Stima DT Sacco is positioning itself for long-term growth and financial sustainability.
