The Kenya National Police DT SACCO Society has received an excellent credit rating from GCR Ratings, a leading credit rating agency in South Africa. The SACCO earned a Long-Term National rating of A-(KE) and a Short-Term National rating of A2(KE). The A-(KE) rating underscores the SACCO’s robust ability to meet its financial obligations, indicating a sound financial position and consistent performance.
The SACCO reports a core capital to total assets ratio of 33.0%, significantly exceeding the industry average of 16.0%. This strong foundation positions the SACCO for continued growth while effectively managing risks. Additionally, with a non-performing loan (NPL) ratio of only 2.4%, the asset quality of Kenya National Police DT SACCO surpasses the banking sector average of 14.9% and the industry average of 8.0%. SACCO leadership says this demonstrates the effectiveness of its risk management strategies.
In terms of funding and liquidity, the SACCO’s structure remains robust, with 90% of member deposits being non-withdrawable, totaling KES 28.7 billion—a 10% increase from the previous year. The current liquidity ratio stands at 61.0%, well above the regulatory minimum of 15%. Net interest income constituted 82.0% of total operating revenue for FY2023, providing a stable and recurring income base.
GCR Ratings’ stable outlook reflects the SACCO’s resilient performance, supported by anticipated stability in asset quality metrics and capital levels. Mr. Solomon Angutsa, CEO of Kenya National Police DT SACCO, stated, “We are very proud to be recognized in this manner, which reaffirms our commitment to financial safety and member service. Our strong ratings indicate that our performance is commendable, and promoting a saving habit and financial inclusion for our members remains our primary focus. We aim to further develop this foundation as we move toward the future.”
The SACCO’s governance structure, comprising a board of nine non-executive directors and a supervisory committee, has effectively guided the company’s strategic initiatives. The current strategic plan emphasizes the importance of sound governance, excellent service delivery, and capacity building. Consequently, the SACCO is well-positioned to grow as it prepares to implement its next strategic plan for 2025-2029.
The credit ratings awarded to Kenya National Police DT SACCO highlight its commitment to financial resilience and its role in effectively supporting its members. As the SACCO continues to adapt and evolve within the financial landscape, it remains dedicated to fostering a culture of savings and financial inclusion among its members.
