By Kiptanui Rutto.
Angaza Africa Sacco, based in Thika town, has set its eyes on attracting the youth by having products and services that appeal to this segment. The Society is focused on assisting the youth own property and run business while also paying school fees for pupils in secondary school.
“We have products tailor-made for children including Elimu Akiba loans where a parent, who is a member of the Sacco saves for five years and then qualifies for a school fees loan when the child enters secondary school,” said John Kangara, Angaza Africa CEO.
He said that the Society requires the fees structure for those members whose savings are still low and then tops up this amount, leaving the parent to repay the debt once the fees balance is cleared. Angaza Africa has been able to generate ideas during frequent member education days.
“We have Bodaboda, school fees and soko loans, all targeted at the youth. We have partnered with a private firm who supply us with motorbikes. The Sacco then finances up to 70 pent of the cost of the motor bike to any youth that is interested,” said Kangara.