Kisumu residents asked to embrace Saccos

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Mar 18, 2017
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By Staff Reporter

Kisumu County Woman Representative, Rose Nyamunga has urged residents of the region to embrace Savings and Credit Co-operatives (Saccos).
She said most of the people have not embraced saving through Co-operative societies and this needs to change, adding that there are some people who are out to discourage the public from embracing savings culture.
The MP pointed out that for the county to develop, business people have to change their attitude towards savings.
Nyamunga was addressing Co-operative officials drawn from all six sub-counties in Kisumu where she noted that poor management has been a great barrier in the success of Saccos in Nyanza region.
“We cannot grow if we are still scrambling for positions in our Sacco’s and this is what is derailing our performance,” she said.
Meanwhile, Kisumu Teachers Sacco CEO, Joseph Oganga has asked borrowers to repay their loans in order for others to access the funds.
Mr Oganga who was speaking during the Annual General Meeting of the society said they are going to ensure that defaulters are forced to pay by registering the Society with Credit Reference Bureau.
He said the defaulters will not be able to borrow loans from other banks and Sacco’s after their names are blacklisted.

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