Nine new cooperative societies registered in Kaloleni, Kilifi County

Nine new cooperative societies have been registered in Kaloleni Sub County in Kilifi County by the Cooperative Development Ministry officials.

Speaking to Sacco Review from Mariakani town recently, Kaloleni sub county Cooperative Officer, Amos Kenga revealed that the formation of the nine cooperative societies would enable local residents to enroll in large numbers, invest heavily to boost their economic status as well as uplifting their living standards.

He further urged on sub county residents who have not joined Saccos to do so and invest heavily so that they could get bigger loans at the end of the transaction period to accomplish their personal development projects.

He further advised women and youth in the area to cooperate fully by ensuring that they form Saccos in a bid to raise their economic wellbeing.

ALSO READ:

Meru youth urged to venture into dairy farming to boost growth

Kenga said that many people in the country have managed to implement their personal development projects through taking loans from their respective Saccos.

“Joining Saccos is the right direction to go,” he noted.

Additionally, the sub county Cooperative Officer further advised Sacco members to go a head and borrow loans wisely and be keen enough by ensuring that they use it for the intended purposes only, but not to divert it to other unplanned uses.

He also asked them to pay their loans promptly which they took from their Saccos so that others can benefit from the same loan products.

Turning to defaulting, Kenga warned Sacco members to avoid the trend since it is a serious offence, noting that once one is blacklisted by Credit Reference Bureau (CRB) will not be allowed to get loans forever.

ALSO READ:

President Ruto launches Ksh750M Awendo housing project, pledges jobs, urban renewal

At the same time, Kenga urged Saccos in the area to embrace good leadership and good governance for effective operations.

“Bad leadership and bad governance have led to the collapsed of many Saccos in the country”, explained Kenga.

He called for the transparency and accountability among Saccos officials while discharging their daily duties, adding that the move would enable them to get trust from the people they serve.

By Tsozungu Kombe

Sharing is caring!