Qwetu DT SACCO has recorded significant progress towards eliminating external borrowing, reducing its outstanding debt from KSh 261.07 million in December 2025 to just KSh 21.84 million by September 2026.
The milestone was highlighted during the Society’s Special Delegates Meeting (SDM), held on Saturday, 31st October 2026, at Two Oceans Hotel, Voi. The meeting brought together delegates, the Board of Directors, Supervisory Committee and Management to review the Society’s performance and approve its 2027 budget.
Addressing delegates, Board Chairman Mr. Simon Mbashu expressed confidence that the Society would fully clear its external debt by December 2026, strengthening its financial independence and capacity to serve members.
The Society also reported impressive financial growth, with total assets increasing from KSh 4.06 billion to KSh 4.32 billion, members’ deposits rising from KSh 2.78 billion to KSh 3.07 billion, and share capital growing from KSh 301.88 million to KSh 333.01 million. The loan portfolio also expanded to KSh 3.10 billion, accompanied by improvements in loan portfolio quality.
The meeting was graced by Mr. Nickson Mwadime, Acting Director of Cooperatives, Taita Taveta County, who commended the Society’s progress and emphasised the importance of translating financial growth into meaningful benefits for members.
Delegates approved the 2027 budget, prioritising digital transformation, improved service delivery, expanded access to financial services and environmental sustainability. Key plans include upgrading the core banking system, establishing a Nairobi office and expanding solar energy installations across the Society’s branches.
The Chairman also highlighted progress in governance, including the approval of 32 institutional policies aimed at strengthening accountability, transparency and regulatory compliance.
As Qwetu DT SACCO looks ahead to 2027, its focus remains on strengthening financial stability, improving operational efficiency and delivering greater value to members.
