Kenya National Police DT SACCO Solidifies Financial Standing, Gets Stable Outlook from GCR Rating
- Kenya National Police DT SACCO received an A- (KE) and A2 (KE) rating from GSR Credit Rating Company
- The South African-based company gave the SACCO a stable outlook for the 2025 national scale affirmation
- Speaking exclusively to TUKO.co.ke, the SACCO chief executive officer (CEO), Solomon Atsiaya, highlighted the factors considered by the rating firm to earn the society the A- score
Wycliffe Musalia has over six years of experience in financial, business, technology, climate and health reporting, which offers deep insights into Kenyan and global economic trends. He currently works as a business editor at TUKO.co.ke.
Kenya National Police DT SACCO has received affirmation of its 2025 national scale issuer ratings from GCR Ratings, a Johannesburg-based credit rating agency.
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The SACCO retained its Long-Term National rating of A-(KE) and Short-Term National rating of A2(KE), both with a stable outlook.
Why Kenya Police SACCO received stable outlook
In an exclusive interview with TUKO.co.ke, Kenya National Police DT SACCO Chief Executive Officer (CEO) Solomon Atsiaya revealed that the SACCO has grown from a BB rating to an A-.
"When we began 7 or 8 years ago. The first rating we were given was BB. Then we improved to BBB, BBB+ and currently we stand at A- for long term and A2 for short term.
"With a good outlook. The rating we were given was a good outlook. Whatever is behind the rating is they largely look at the quality of the assets. The biggest asset we have is the very qualitative loans," said Atsiaya.
Atsiaya noted that over 90% of the SACCO's assets come from loans offered to members at affordable and competitive rates.
He added that the rating agency also looks at how the SACCO funds loans and whether the loans meet members' needs and demands.
Other parameters for rating are the number of loan products, capital adequacy and the availability of loans.
"You must have that money. So they look at the funding. The funding has been very adequate. Through the capital adequacy, currently at 34%, we have been able to achieve liquidity.
"Liquidity is like a life plan of a financial institution. If the financial institution is liquid then the members will get the luxury of service. Because that is what they are coming for. And our loans are available via mobile money channels. Any member who utilises a mobile can get the money at any time. So that is why we have been given the rating of A-."
What the ratings mean
The ratings highlight the SACCO's strong capital base, stable funding and key role in Kenya’s financial sector.
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The A-(KE) Long-Term rating signals the SACCO’s ability to meet obligations, supported by disciplined operations.
As of December 31, 2024, its core capital to total assets ratio was 33.0%, well above the 2023 SACCO industry average of 16.1%.
The institutional capital to assets ratio was 27.0%, and core capital to deposits was 64.0%, both exceeding the regulatory minimum of 8.0%.
The GCR financial leverage ratio stood at 36.0% in 2024, averaging 36.9% over five years.
CEO Atsiaya said GCR’s reaffirmed ratings highlight the SACCO’s dedication to financial strength and member-focused services.
"We remain committed to fostering savings, affordable credit and financial inclusion as we shape our 2025-2029 strategic vision,” he added.
He noted that the GCR rating is one of the best ratings the SACCO has received within the sector.
"But we are aspiring to move up and get better ratings. So just figuring out what it is that we need to do, how best we need to manage our resources, so that we can have a better rating in the future.
"A- is the best rating in Kenya. I don't think there is any better rating than that. It is the best rated sector in global credit rating," he explained.
ISO certification
In February 2025, the SACCO received ISO 9001 certification for prudent financial services and solutions.
The three-year certificate defined the SACCO's commitment to meeting the expectations of its diverse membership.
Kenya National Police DT Sacco boasts a membership of 74,000 members drawn from all sectors of the economy.
Proofreading by Mercy Nyambura, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
