Mombasa County gov’t invests millions to rescue Saccos

By Tsozungu Kombe

Mombasa County Government will spend Ksh. 8 million from its recurrent budget to run cooperative society activities in the region, Sacco Review has reliably established.

Speaking to Sacco Review from Mombasa town recently, Mombasa County Cooperatives Director Mr. Nelson Nyoro said the same money will also be spent to revive some dormant Saccos in the county.

He added that the move would enable county residents to join Saccos in large numbers to uplift their living standards.

The director asked Sacco members to patronize their Saccos and advised Saccos on their part to demonstrate good leadership and governance for them to retain members, attributing high withdrawal rates from Saccos to poor management.

He also cautioned members against defaulting, as it denied others an opportunity to benefit from the same loan products.

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