Young traders in Embu County have been challenged to form or join Saccos to qualify and access loans to enable them upgrade to become entrepreneurs.
Embu County Director of Cooperatives David Muriuki cautioned the traders against underestimating the financial resources they mobilized daily, further urging them to save at least Ksh20 daily.
“Saving in Saccos will enable you to access loans to expand your businesses,” said Muriuki.
He added that the youth have wide choices on areas of investment, especially due to their familiarity with modern technology where marketing and access to financial resources and customers have been made widely easy through digital systems.
“Digitally savvy people have the potential of making attractive incomes through utilization of commercial opportunities being offered in the Information Communication Technology (ICT) industry,” said Muriuki.
He further urged the youth to invest in small non tax income generating projects or to diversity their sources of income and investments to avoid overdependence on traditional sources of income such as coffee, tea and macadamia.
The director appealed to residents to attend the forthcoming Ushirika Day celebrations set to be held on July 1, 2023 to learn more about the benefits of joining cooperatives.
“The government has intensified campaigns to educate Kenyans on the importance of coming together in groups or Saccos where their savings will be well mobilized and secure,” he advised.
He added that the county has some of the best managed Saccos hence small and big scale businesspeople should not hesitate to join such entities.
He thanked Governor Cecily Mbarire for her role in ensuring cooperatives are the main conduits for savings and investment.
By Robert Nyagah
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