By Erick Nyayiera
Small co-operatives operating in Nyanza and Western region have been urged to consider exploiting loaning facilities from the giant Sacco organisations to maximise productivity.
Western regional Chairman Ushuru Sacco Owuor Awuor regretted that most Saccos in the western and Nyanza region have suffered exploitation from the commercial banks who charge huge interests rates thereby affecting the growth of the co-operative societies.
Awuor advised Saccos to seek financial assistance and advices including loaning services from the established giant Saccos who give cheap credits so that they are able to improve on their economic undertakings.
“The very many small co-operative movements in Nyanza and Western circuit have collapsed largely because of over exploitation by the banks who give quick loans yet charge high interest rates, we therefore advise them to visit these large Saccos and find proper assistance to be able to make meaningful growth,” said Awuor.
The Chairman also advised the Saccos to inculcate the saving culture and increase their resource base that will enable them venture into viable investments and economic activities that have the potential to impact on members’ livelihoods.
The Ushuru Sacco Chairman also appealed to the Saccos to embrace technology and also benchmark with established giant saccos who are able to walk them along the challenges.
He also urged the County governments in Nyanza and Western regions to support the sacco movements in their regions.
During the celebrations, Ushuru Sacco Western Circuit branch was feted as the Best managed national sacco in Nyanza region.