By LYNET IGADWAH
The Kenya Union of Savings and Credit and
Co-operative Societies (Kuscco) will this year kick off a housing
project in Kitengela after what it termed as improved financial
performance.
Kuscco chairman George Magutu said construction of more houses was in the pipeline with the aim of boosting revenue streams.
“We will engage more of these projects as a union
in order to be in a better position than mainstream financial
institutions to lend out money to our members at better rates,” he said
Mr Magutu was speaking on Friday in Nairobi during Kuscco’s 27th annual delegates meeting that also marked its 40th anniversary.
Delegates approved a proposal to pay dividends
using cheques rather than dividend advice vouchers that have been
causing delays in payments.
“The board is pleased once again to propose a dividend rebate of eight per cent for the year 2013,” said Mr Magutu.
Kuscco turnover increased 13.5 per cent to Sh733.3 million in 2013, up from Sh645.3 million in 2012.
Its share capital recorded 17.3 per cent growth to stand at Sh926.1 million in 2013 compared to Sh789.6 million in 2012.
The asset base in 2013 rose to Sh7.2 billion up
from Sh6.1 billion in 2012 and Sh5.4 billion in 2011. Members’ deposits
grew by 17 per cent to Sh5.3 billion in 2013, up from Sh4.6 billion in
2012.
No comments :
Post a Comment