County urged to channel Co-op Development Fund through Saccos

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By Erick Nyayiera

Siaya County government through the department of Enterprise and Industrial Development has been asked to channel its Co-operative Development Funds to residents through established Savings and credit co-operative societies (Sacco’s).
According to Bondo sub-county Commissioner of Co-operatives Aineah Ayamba, the Co-operative Development Fund will only benefit Siaya residents if it is channeled through bigger Sacco as intermediaries for the fund.
He said that once the fund has been approved by the county assembly and is ready to be rolled out, it should be given to the established Sacco’s in the county to provide it to the small scale traders in terms of affordable loans.
Ayamba who spoke during the disbursement of Women Enterprise Funds at the Bondo Teachers’ Sacco offices in Bondo town, stated that the fund is going to target small scale traders once it is rolled out and therefore encouraged them to ensure they join Sacco’s to be able to access it.
The sub-county commissioner of co-operatives said this will enable them to access cheap loans that they will be able to repay with ease.
During the exercise, Bondo Teachers’ Sacco which has been an intermediary for the Women Enterprise Fund released over Sh2 million to women entrepreneurs from Bondo and Rarieda sub-counties.
The occasion was presided over by the chairperson of Bondo Teachers’ Sacco Everline Otieno who encouraged the women to ensure prudent use of the funds to enable prompt repayment.

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