Kenya Commercial Bank (KCB) Nakuru Branch has developed KCB Chama App that aims to assist cooperatives and Chamas on handling finances, taking loans or saving towards an a goal.
KCB Nakuru Branch Manager Christine Keter while speaking in Nakuru on Thursday, May 23, 2024 where she led a team from the lender in a meeting with the County Chief Officer for Cooperatives Kurgat Kibet to explore possible areas of collaboration between the department and the bank, revealed that most cooperatives face challenging issues such as managing finances and unavailability of credit that cause stagnation of development within the cooperatives.
Keter further said that the bank will work in partnership with the county to train Small Scale Enterprises (SMEs) and provide mentorship to the cooperatives which has been identified by the government as one of the important pillars in improving the economy and in the achievement of vision 2030.
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At the same time, the chairman of small-scale farmers in the county, Bernard Mwenje urged the county governments to come up with a revolving Sacco that charges a minimum fee, and doesn’t penalise or increase interests for delayed payments caused by natural disasters.
By Vostine Ratemo
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