Join Saccos to access affordable credit

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Oct 30, 2017
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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, VitalisOkech has said small scale traders can easily accessloans through Saccos compared to commercial banks.
He lamented that NyanzaRegion was still lagging behind in terms Sacco uptakedespite 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 speakingduring 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.

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