- Meru clergy launched Maendeleo Ya Jamii Sacco to support small traders, farmers and low income earners with affordable loans and savings.
- Members pay Ksh500 to register, buy shares from Ksh1,000 and can access loans from Ksh2,000.
- Leaders urged residents to save, invest and join the Sacco to grow their businesses.
Residents of Ruiri-Rwarera ward in Buuri Constituency, Meru County have a reason to smile after the clergy, in partnership with other stakeholders, launched a new Sacco dubbed “Maendeleo Ya Jamii Sacco” in a deliberate move to cater mainly for small-scale traders in remote areas.
The Sacco was established following consultation between the clergy and other stakeholders in the area, including Buuri MP Mugambi Rindikiri and Ruiri-Rwarera MCA Felix Kithinji.
The new Sacco was launched by the clergy to support small-scale traders, farmers and low-income earners in the county’s arid and semi-arid lands (ASAL) regions. It seeks to promote a savings culture while providing members with low-interest loans to grow their businesses.
“The Sacco was established by the clergy from Ruiri, Rwarera and Mituntuu area. This is after realising we needed a central point to invest by saving and borrowing as little as Ksh 2,000. The lowest share cost Ksh 1,000 while the registration fee is Ksh 500. I urge Meru residents living in remote areas to embrace the saving and investment culture following the launch of a new Sacco aimed at expanding access to affordable credit and improving livelihoods for vulnerable communities. Let us invest and save for the future generation,” said Bishop Gichuru.
READ:
Poultry producers seek measures to curb rising foreign competition
He urged the residents to join the Sacco in large numbers and encouraged members to borrow and repay in time in order to enable others to benefit.
”The new Sacco was launched by the clergy to support small-scale traders like the vegetable vendors, farmers and low-income earners in the county’s ASAL regions. It seeks to promote a savings culture while providing members with low-interest loans to grow their businesses. Let us invest our money in a reliable financial institution where we are assured of dividends. The Sacco is headquartered at Ruiri Market,” said the chairman.
The Sacco Treasurer, Bishop Stephen Kaithia, challenged residents to abandon hand-to-mouth spending habits and instead build wealth through consistent saving and investment.
“We are calling on the people of Meru to save and invest through this Sacco. God blesses the work of our hands, and what we invest today will benefit not only us but also our children and grandchildren,” Kaithia said.
He encouraged members to purchase shares, saying shareholders would earn dividends while also qualifying for affordable loans to expand their businesses.
“The Bible teaches that a good person leaves an inheritance for their children and grandchildren. Stop living from hand to mouth. Invest, buy shares, earn dividends and access affordable loans to improve your businesses,” he added.
The treasurer lauded Buuri constituency MP Mugambi Rindikiri and Ruiri-Rwarera MCA Felix Kithinji for giving priority to small-scale traders in remote areas by establishing such a Sacco.
He said anybody can register with a mandatory registration fee of Ksh 500 and urged locals to join the Sacco in large numbers.
Pastor Jackline Ntinyari, who heads the Sacco’s development programmes, said the institution was established to empower small business owners who often struggle to access financing from conventional lenders.
She urged residents to seize the opportunity by registering as members and using the Sacco’s products to expand their enterprises.
“The only way to grow small businesses is by taking opportunities when they arise. This Sacco has been established to support ordinary traders and transform their livelihoods,” Ntinyari said.
IN CASE YOU MISSED IT:
Peter Gitonga, the Sacco’s head of business partnerships, said the institution would also promote table banking as a way of strengthening members’ savings and financial discipline.
He called on church leaders to mobilise their congregants to join the Sacco, saying collective saving would improve household incomes and stimulate economic growth in underserved parts of the county.
By John Majau
Get more stories from our website: Sacco Review.
For comments and clarifications, write to: Saccoreview@
Kindly follow us via our social media pages on Facebook: Sacco Review Newspaper for timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!
