By Tsozungu Kombe
The department of cooperatives in Mombasa County will develop a recovery strategy to help Saccos recover from effects of the Covid-19 pandemic.
Saccos in the region are currently experiencing challenges, leading to their failure to generate enough revenue for business recovery.
Speaking to Sacco Review in Mombasa town recently, The County Cooperative commissioner Nelson Nyoro said the hotel industry based Saccos were hardest hit by the pandemic.
He also revealed that beach hotels laid-off many employees who could not be paid salaries because lack of tourists led to little generation of revenue.
Nyoro however assured stakeholders that said that the county government will develop a strategic plan for business recovery for the Saccos.
He disclosed that the county government is also currently considering the revival of dormant Saccos in the area.
“A supplementary budget to revive dormant Saccos in the region has to be made available for the revival exercise to succeed,” he noted.
Nyoro also urged residents in the county to join Saccos in large numbers and invest heavily for them to get development loans.
‘Many people in the country have managed to accomplish development projects through loans from their respective Saccos,” he added.