Cotton farmers in Magarini Sub-County, Kilifi County, have been urged to form Savings and Credit Cooperative Organizations (SACCOs) and invest strategically to improve their living standards.
Speaking to Sacco Review in his office in Marafa Town, Magarini Sub-County Cooperative Officer, Edward Fondo, noted that many cotton farmers in the area have yet to form Saccos. He emphasized the importance of doing so as a pathway to economic empowerment and improved livelihoods.
He called on farmers to remain focused and take deliberate steps to establish Saccos for their own socio-economic wellbeing.
The cooperative officer observed that many Kenyans have successfully implemented personal development projects through loans accessed from Saccos.
“Joining Sacco is a key factor in achieving financial stability and prosperity,” said Fondo.
He also encouraged residents who have not yet joined SACCOs to do so and invest consistently in order to qualify for larger loans at the end of a transaction period, which can be used to fund development projects.
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Fondo further urged societies in the area to adopt Information and Communication Technology (ICT) to improve efficiency in service delivery to members.
Additionally, he stressed the importance of strong leadership and good governance in Sacco management.
“You are duty-bound to uphold transparency, accountability, integrity, and honesty in your daily operations. This will help you earn the trust of the people you serve,” he told Sacco officials in the sub-county.
Meanwhile, Kilifi South Sub-County Cooperative Officer, Samuel Mwango, urged coconut farmers in the region to collaborate, form Saccos, and invest in order to access larger loans for development projects.
He expressed concern that many farmers in the sub-county have not embraced Saccos, underscoring the urgent need for their formation.
Mwango also cautioned Sacco members against loan defaulting, noting that it has contributed to the collapse of many Saccos across the country.
By Tsozungu Kombe
