County to establish revolving fund for Saccos

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By Dennis Bett

The County Government of Elgeyo Marakwet has created a revolving fund worth Sh10 million for Sacco’s across the county to empower them as well as reviving the dormant co-operatives.
As part of the programme, the government will also pursue a welfare scheme programme for the co-operatives which will see members benefit at their time of need.
Speaking during the Smartlife Sacco ADM held in Kapsowar, former County Co-operatives Chief Officer Ismael Chelang’a also the CO of ICT who spoke on behalf of the cooperative CEC member Ann Kibosia said that they have already rolled out a plan to establish one society which will administer the responsibilities on behalf of the county.
He said that their main aim is to expand the cooperatives across the county since majority of them have a small liquidity making it uneasy for them to offer loans to its members.
The co-operative officer encouraged societies which have never re-branded to do so with haste to ensure that it becomes easier for them to penetrate into the market.
“The County Government will also support Saccos and co-operative societies across the county in value addition programs as this are a way of enhancing service delivery for the members. I also encourage you to diversify your products and services to reach out for more market as well as provide preference,” he said.
Mr. Joel Barbengi representing the county co-operative Chairman said Sacco’s should take advantage of M-banking services to increase their revenue and making it easier for its members to access their cash.

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