Top 10 Highest Dividend Paying SACCO In Kenya [2023]

The SACCO Societies Regulatory Authority (SASRA) has published its 2023 list of licensed SACCOs in the country. But other than certification, most people are interested in the highest dividend paying SACCO in Kenya.

As of 2022, the highest dividend paying SACCO in the country was Nyati SACCO, with a 21% dividend share on capital and an 11% payout on members’ savings or deposits. 

Completing the top 5 list are Magadi SACCO, Tower SACCO, Mombasa Port SACCO, and TransNation SACCO. Other than TransNation SACCO, which had an 18% dividend share on capital, the others had a 20% payout which is fantastic. 

Other SACCOs making the top 10 list are Biashara SACCO, Bandari SACCO, Mafanikio SACCO, Hazina SACCO, and the Kenya National Police DT SACCO in the same order. 

Besides the Kenya Police SACCO that registered a 17% payout on share capital, the other four had an 18% which they differ in however, which explains the ranking is the dividend on members’ savings. 

I’ll discuss all these SACCOs in detail to enable you to identify the best-paying option for you and make an investment decision. Overall, here’s what I’ll discuss:

  • What’s a SACCO?
  • What are dividends?
  • How do you earn dividends?
  • How are dividends calculated?
  • Which month do SACCOs pay dividends?
  • Best dividend paying SACCOs in the country
Highest Dividend Paying SACCO In Kenya

Let’s dive in!


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In a rush? Consider the best SACCO dividends in Kenya in the table below:

10 Highest Dividend Paying SACCO In Kenya

SACCO Identity Minimum Capital ShareDividend on Share Capital Dividend on Saving Deposit Registration
1.Nyati SACCO Ksh 9,00021% 11%Ksh 500
2.Magadi SACCO Ksh 20,00020%14%Ksh 2,000
3.Tower SACCO Ksh 10,00020%13%Ksh 500 
4.Mombasa Port SACCO Ksh 40,00020%12.5%Ksh 500
5.TransNation SACCO Ksh 10,00018%13.1%Ksh 500
6.Biashara SACCO Ksh 50,00018%13%Ksh 2,000
7.Bandari SACCO Ksh 10,50018%11.5%Ksh 1,000
8.Mafanikio SACCO 18%11%
9.Hazina SACCO Ksh 16,00018%10.6%Ksh 1,000
10.National Police DT SACCO Ksh 20,00017%10.8%Ksh 2,000
highest dividend paying SACCO in Kenya

What’s A SACCO?

The term SACCO is short for savings and credit cooperative society, and a SACCO is generally a financial institution founded by members with a common interest. For example, we’ve SACCOs for teachers like TransNation SACCO and Mafanikio SACCO, SACCOs for accountants like Mhasibu SACCO, and SACCOs for business people like the Biashara SACCO. 

SASRA (SACCO Societies Regulatory Authority) regulates SACCOs in Kenya. Their main goal is to enable their members to save and earn a return on their savings, access loan facilities and receive dividend payments. 

Let’s focus on the last benefit. 

What Are Dividends in SACCOs?

Dividends refer to the amount you regularly receive from the profits that accrued yearly. Dividends are paid monthly, quarterly, semi-annually, or annually depending on the SACCOs terms and policies. 

These regular payments motivate you to save more. The more you do it, the higher the dividend payouts. 

How Do You Earn Dividends In A SACCO in Kenya?

Dividends are payment rewards for the shares you own (your contribution) in a SACCO. Ordinarily, a SACCO pays dividends when it has a surplus in its reserve at the end of a given financial year. 

Overall, SACCOs pay two types of dividends. First, weave payouts on members’ savings which applies to members with a deposit account. 

Second, they pay dividends to those who hold shares. But overall, the dividend on shares usually is higher than on members’ deposits. 

For example, Nyati SACCO, Kenya’s best-paying SACCO, had a 21% dividend on share capital and 11% on deposit in 2022. 

How do you earn dividends in a SACCO

How Are Dividends Calculated in a SACCO in Kenya?

SACCOs use different formulas to calculate dividends, and here are two of the commonest:

a)  Flat Rate Dividend Calculation 

The Flat Rate technique is the most straightforward of the two. It only requires two considerations: members’ end-of-year SACCO shares and the total dividend payout for the members. 

Here’s the formula for calculating dividends using the Flat Rate technique:

Dividends = the members’ end-of-year share ÷ member’s total share × dividend amount

Let’s consider SACCO X, whose dividend amount is Ksh 100,000, and the total members’ share is Ksh 5,000,000. Suppose a member had Ksh 50,000 worth of shares; how much will he receive as a dividend?

If we apply the above formula, it’ll be 50,000 ÷ 5,000,000 × 100,000. That will give us Ksh 1,000. That’s how much the member will get as a dividend. 

Pros of Flat Rate

  • Simple to work out 
  • Easy to understand 

Cons of Flat Rate 

  • Discourages members from saving early as they’ll receive the same dividend regardless of the time they opt to save (it’s not fair)
  • It does not favor the SACCO either, as it eats most of its reserve when members save late

b) Pro Rata Dividend calculation 

Unlike the Flat Rate technique, which does not distribute dividends uniformly, Pro Rata does just that. It distributes the dividend payouts proportionately by allowing monthly interest allocation to SACCO members. 

For that reason, Pro Rata involves converting annual rates into monthly rates. In this case:

The dividend rate = Declared end-of-year shares ÷ outstanding end-of-year total shares × 100%

Let’s take this example:

SACCO Y declared shares worth Ksh 1,000,000, while the total shares at the end of the year equaled Ksh 20,000,000. What will be the dividend rate?

The dividend rate = 1,000,000 ÷20,000,000 × 100%

That gives us 5%. But since this is an annual rate, we must divide it by 12 to get the monthly rate (which will be 0.42%). In that case, the members will earn dividends at a rate of 0.42%.

Pros of Pro Rata 

  • It’s fair, as the earlier the members save, the more the payout 


  • It’s not as straightforward as Flat Rate technique

Which Month Do SACCOs Pay Dividends in Kenya?

Most SACCOs in Kenya pay dividends at the end of the year once they sit for the annual general meeting (AGM) and approve the payment. So, the month is not specific, as it depends on where the AGM falls in a particular year. 

10 Best Dividend Paying SACCOs in Kenya

Dividend-wise, below are 10 of the best SACCOs in Kenya:

1. Nyati SACCO – Highest Dividend Paying SACCO in Kenya 2023

Boasting a 21% dividend share on capital and an 11% payout on members’ savings, at the start of 2022, Nyati is the best dividend paying SACCO in the country. 

It only takes a registration amount of Ksh 500 to join. Nyati brings together members from the G4S and Tandu Alarms communities, other related firms, and the Nyati SACCO family. 

The minimum capital share on Nyati is Ksh 9,000, making its stock more affordable than most SACCOs in Kenya. Members are required to make a monthly contribution of Ksh 1,200. 

What’s more, Nyati SACCO offers loans in multiples of three of the members’ savings. 

2. Magadi SACCO 

Though Magadi SACCO was founded to cater to the savings and loan needs of Magadi workers, it is now open to non-Magadi members. That means anyone can join if they meet the joining threshold and make the necessary monthly contributions. 

The registration fee is Ksh 2,000, and the minimum capital share is Ksh 20,000. As of 2022, the dividend on share capital and the payout on members’ savings were 20% and 14%, respectively. The loan multiple, as is the case of Nyati SACCO, is 3. 

Which month do SACCOs pay dividends

3. Tower SACCO 

Founded initially to cater to the financial interests of primary school teachers, Tower SACCO now accepts members from all walks of life. Anyone can join Tower SACCO, from the teaching and non-teaching staff to the Kenya defense and hospital workers. 

The SACCO enjoyed a 20% payout on share capital, just like Magadi SACCO, and a 13% dividend on members’ savings. The current joining fee is Ksh 500; you need a minimum share contribution of Ksh 10,000.

Like Magadi and Nyati SACCOs, Tower SACCO offers loan multiples of three times the members’ savings. 

4. Mombasa Port SACCO 

The Mombasa port SACCO might have started as a SACCO for the Mombasa ports workers but is now open to all. That includes individuals, Chamas (self-help groups), and cooperatives. 

This SACCO’s most recent dividend payout share capital and members’ savings are 20% and 12.5%. The minimum capital share is Ksh 40,000, while its joining fee is Ksh 500. 

Individual members must contribute Ksh 1,000 monthly, while groups contribute Ksh 5,000 monthly. 

5. TransNation SACCO 

Originally Tharaka Nithi Teachers SACCO, TransNation SACCO is another top-paying SACCO in Kenya. The SACCO enjoyed an 18% payout on share capital and 13.1% on members’ savings. 

Members register with Ksh 500 and require a minimum capital share of Ksh 10,000. The minimum monthly contribution per member is Ksh 400, and members can get up to 3 times their savings. 

6. Biashara SACCO 

Biashara SACCO is one of the best rewarding SACCOs in the country, and it’s not just about the dividends. Dividend-wise, Biashara SACCO paid out 18% and 13% on share capital and member’s saving, respectively, in 2021. 

And in terms of loan multiples, Biashara SACCO offers up to 5 times the members’ savings. To join Biashara SACCO, you need a minimum capital share of Ksh 50,000 and a Ksh 2,000 joining fee. The monthly contributions are, however, Ks2,500. 

7. Bandari SACCO 

Bandari SACCO has a similar story to Mombasa Ports SACCO. It was founded to serve the employees at the port, and now they accept individuals and Chamas outside the Kenyan ports. 

As of 2021, Bandari SACCO’s dividend on share capital and members’ savings were 18% and 11.5%, respectively. The joining fee is, however, Ksh 1,000, and members should contribute Ksh 1,500 monthly. The minimum capital share is Ksh 10,500. 

best SACCO dividends in Kenya

8. Mafanikio SACCO 

Mafanikio, a Swahili name for success, is another best-paying SACCO in the country. The SACCO attracts members from the Ministry of Education, the president’s office, and SACCO employees. 

2021 saw Mafanikio payout 18% on share capital and 11% on members’ savings. To date, Mafanikio is among the oldest SACCOs in the country, given that it dates to 1976. 

9. Hazina SACCO 

If you are looking for the fastest-growing SACCO in the country, you can’t look beyond Hazina SACCO. At the end of 2021, Hazina SACCO paid 18% and 10.6% on share capital and members saving, respectively. 

The minimum capital share is Ksh 16,000, members make a minimum monthly contribution, and the joining fee is Ksh 1,000. That gives a total of Ksh 2,000. Hazina SACCO offers loans of up to 4 times the members’ savings. 

10. National Police DT SACCO 

The last highest dividend paying SACCO in Kenya is the Kenya National Police DT SACCO. Though its founders initially established it to support the police and their families, anyone can save with the SACCO.

That includes civil servants, non-uniform salaried workers, and business communities. The National Police DT SACCO enjoyed a dividend on the share capital of 17% and a 10.5% payout on members’ savings. 

Speaking of saving, members can get loans of up to four times their savings. The joining fee is Ksh 2,000, whereas the monthly contribution is Ksh 1,000. 

Closing Remarks 

If you were looking for the highest dividend paying SACCO in Kenya, it has to be Nyati SACCO, given its 21% payout on share capital and 11% dividend on members’ savings. 

However, that doesn’t mean the other nine are not worthy of consideration. Remember, all these SACCOs unite members with a common interest; you only need to identify where you can fit. 

And if you need some clarification, our Cent Warrior team on social media will be happy to help. 

Written by Alex

Written by Alex

I have passion in helping people Make, Manage, Multiply & Protect Wealth.Download my Free Guide to Financial Freedom >>[ GET IT HERE]<<