Some six cooperative societies have been registered in Lamu County by the Cooperative Development Ministry, Sacco Review has reliably established.
Speaking to Sacco Review from Lamu town recently, Lamu County Cooperative Director, Mr. Paul Thauri revealed that the county is currently in the process of registering more Cooperative societies to enable county residents to join them in large numbers, hence invest heavily to improve their economic status.
He further advised cooperative societies in the region to embrace corporate good leadership and governance in a bid to operate more effectively and efficiently.
The County Cooperative Director however called on the Cooperatives to adopt Information Communication Technology (ICT) to enable them to enhance efficiency in service delivery to members and the general public.
However, Mr. Thauri asked those residents in the region who have not joined Saccos to do so immediately and invest heavily so that they can get bigger loans at the end of the transaction period to accomplish their personal development projects.
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He noted that many people in the country have managed to implement their personal development projects through taking loans from their respective Saccos.
“Joining Saccos is the right direction to go towards achieving stability and prosperity”, explained the County Cooperative Director.
Mr. Thauri further asked Sacco members to develop a saving culture for better returns, rather than consuming culture which will make them to incur great loss at the end.
He also advised members to borrow loans wisely and pay promptly to enable other to benefit from the same loan products.
“You should strictly use your loans for the intended purposes only, but not to divert it to other unplanned uses”, the County Cooperative Director told Sacco members in the region.
He also warned members against defaulting, noting that defaulting was a serious offence that when one is referred to Credit Reference Bureau will not be given a loan forever.
By Tsozungu Kombe.
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