By Washington Okellah
Fish traders from Port Victoria town in Budalangi constituency, Busia County have been urged to form SACCOS to access development loans.
Speaking after launching a 14 seater Nissan van bought by Maningo SACCO members, Budalangi MP Raphael Wanjala said SACCOS are the bridges that lead to instant wealth.
He lauded the Sacco leadership led by Samson Nyadimo for coming up with the concept to initiate a viable project that has positively changed the lives of the members since its inception two years down the line.
“I want to call upon other traders doing fishing business along our key beaches along the shores of Lake Victoria , Omena, Marenga and Mulukoba to emulate Maningo Sacco and form their Sacco that would give them an opportunity to save and borrow cash to enable them invest in other viable income generating activities and improve on their living standards,” said Wanjala.
The Sacco chairman Samson Nyadimo said the Sacco has been providing loans to its members majority of whom are fishermen that has enabled them to buy motorboat and outboard engines.
He said apart from availing loan facilities to its 68 members, they are planning to build a multi-purpose social hall fully equipped with plastic chairs and tents for hire to generate more cash for the Sacco.
The Sacco chairman however said the key challenge hampering their progress is lack of access to loans from banks within Busia County.
“Accessing loan from banks in Busia County has been an uphill task, so we are appealing to Busia Governor Sospeter Ojaamong and Budalangi MP Raphael Wanjala to support us through the county’s Cooperative Department to enable us get loan to achieve our objectives of empowering our members to be self-reliant,” said Nyadimo.