In a landmark display of financial resilience and institutional growth, Tower SACCO Society Limited has officially ascended to the rank of the fifth-largest Deposit-Taking SACCO in Kenya. The announcement came during the Society’s 50th Annual General Meeting (AGM) held at the Ol’Kalou Catholic Parish Grounds, where members gathered to celebrate five decades of service since the SACCO’s inception in 1976. Despite a 2025 fiscal year marred by high inflation, a soaring cost of living, and climate-related economic shocks, the SACCO reported double-digit growth across all its major financial indicators.
The Society’s "Golden Jubilee" performance was highlighted by a significant surge in membership, which jumped 29% in a single year—from 192,270 in 2024 to nearly 248,000 by the end of 2025. This influx of new members drove a massive increase in the SACCO’s balance sheet: Total Assets: Increased by 23%, rising from KSh 28.0 billion to KSh 34.56 billion. Member Deposits: Grew by 23% to reach KSh 27.8 billion
Revenue: Total income rose by 22% to KSh 5.28 billion, resulting in a surplus before tax of KSh 1.29 billion. Board Chairman Peter M. Ngugi attributed these results to unwavering member trust and disciplined governance. "Despite these headwinds, Tower SACCO remained committed to its vision, strategic objectives, and to serving members diligently," Ngugi stated. In a move that outperformed many traditional investment vehicles, the Board recommended a 13% rebate on non-withdrawable deposits and a dividend of KSh 20 per share on share capital.
The Chief Guest, Patrick Nyaga, Group MD and CEO of CIC Insurance Group, lauded these returns. He noted that while real estate typically yields 4–10% and bank deposits range from 7–12%, Tower SACCO’s 13% return represents "a very, very good return" in the current economic climate. The SACCO’s physical and digital footprint continued to expand in 2025. Newly launched branches in Thika, Nyeri, and Mwisho wa Lami have already begun contributing to the bottom line. Looking forward, the Society is eyeing new territories with feasibility studies underway in:- Eldoret- Kajiado- Mombasa- Kenol This expansion is part of an ambitious roadmap to grow the SACCO’s asset base to KSh 80 billion by 2030. To support this, members were urged to shift toward digital platforms, including the Tower SACCO Mobile App and USSD code (*655#), which now handle the vast majority of transactions.
Under the theme “Embracing Integrity for Sustainable Growth and Member Trust,” the AGM also highlighted the SACCO’s social contributions. Its education sponsorship programme celebrated a 100% university transition rate for its first cohort, with 20 bright but needy students currently receiving full support. However, leadership also touched on the legalities of the movement. Supervisory Board Chairperson Peter N. Kuria reminded members of the legal weight of loan guarantees, urging them to avoid unnecessary litigation that drains Society resources.
The meeting served as a curtain-raiser for the official Golden Jubilee celebrations scheduled for September 15, 2026. As the SACCO navigates a government-mandated transition to a delegate system for large cooperatives, the Nyandarua County Government, represented by Chief Officer Njeri Njoroge, pledged continued support to ensure the institution remains a beacon of stability and innovation. "Our journey has been one of resilience, discipline, and shared responsibility," the Board concluded, urging the 247,000-strong membership to protect their investments for the generations to come.
