Saccos have been urged to develop youth-attractive products and services that include tailored saving plans, micro-loans for start ups, and financial literacy programmes aimed at empowering them to make informed financial decisions.
Kiambu Deputy Governor Rosemary Kirika, speaking during Dimkes Sacco’s 25th anniversary at St Paul ACK Church grounds in Kiambu town, said young people have limited access to financial resources yet are known for their creative ideas, innovation and entrepreneurial spirit.
“The youth are the driving force behind the emerging creative economy. This entails generation of original ideas through imagination. These ideas are then combined with knowledge, talents and experiences to produce goods and services that solve emerging human challenges,” Kirika said, adding that by equipping the young people with the necessary skills and resources, they will be empowered to contribute meaningfully to the society and drive the country forward.
She said the Kiambu County Government has sponsored many youth training and capacity building programmes in diverse areas such as digital space, entrepreneurship, youth employability, film capacity building and sports development management, among others.
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The event was attended by Deputy President’s wife Dorcas Rigathi as the chief guest, who agreed with Kirika’s sentiments.
“As a champion of the youth, and especially the boy child, I also urge the Sacco to invest in financial products that target the youth who comprise a big percentage of the country’s population, and encourage a saving culture from a young age,” she said.
Principal Secretary (PS) in the State Department of Cooperatives Patrick Kilemi said the cooperative movement in Kenya boasts of a membership of 15 million, 28,000 registered cooperatives, Ksh1.7 trillion asset base, Ksh1 trillion in loans, and Ksh1.1 trillion in savings.
“I am happy to see Dimkes Sacco is contributing to this success in the cooperative movement. I urge Saccos in the country to continue being innovative as they serve their members, and remember the currency for this business is trust,” said Kilemi.
By Felix Wanderi
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