Join Saccos to access affordable credit


Dec 9, 2017

By Erick Nyayiera.
Juakali artisans and small scale traders in Siaya County have been urged to join Savings and Credit Co-operative Societies (Saccos) to get easy access to cheap loans.
Siaya County Director of Co-operatives, Vitalis Okech has said small scale traders can easily access loans through Saccos compared to commercial banks.
He lamented that Nyanza Region was still lagging behind in terms Sacco uptake despite Kenya being the leading country in Africa and number seven in the world.
Okech encouraged the community to embrace the Sacco movement.
Mr. Okech, was speaking during the 2nd Annual General Meeting of Siaya Micro and Small Enterprise (SMEs) Sacco at the Kenya Industrial Estate in Siaya town.
He stated that it is only through Saccos that the traders can boost their businesses and uplift their socio-economic standards.
The Director revealed that Siaya County Government through the Co-operatives Department had set aside Sh38 million to support small scale traders in terms of cheap loans this financial year, but maintained that this will only benefit those who are in Saccos.
He challenged them to move with speed and join Saccos to be able to benefit
from the Fund whose implementation starts October when the County assembly shall have finalized and approved the legislation that will guide the use of such Fund.
Speaking during the same meeting, Chairman of the Siaya SMEs Sacco, Mr. Benson Nyang’or Juma encouraged his members to embrace the culture of borrowing loans to grow socio-economically.

Leave a Reply

Your email address will not be published. Required fields are marked *