By Tsozungu Kombe.
The Kwale County Co-operatives Officer, Levina Lenjo has commended local residents for joining Saccos in large numbers, citing the case of many merry go rounds that have since turned into Saccos.
The County had only one deposit-taking Sacco, Kwale Teachers Sacco, which has since rebranded to Tabasamu Sacco. This number has increased to three following the entry of Kilifi-based Imarika Sacco which has a presence in Ukunda as well as Mafanikio Sacco.
“A slump in the Tourism industry is affecting Saccos in Kwale County who most draw their membership from employees in the Hospitality industry,” said Lenjo.
Saccos in Kwale have thus opened up their membership to non-salaried individuals who are mostly engaged in the Informal sector. She pointed out that Kwale County needs more Saccos that can offer banking and financial products to members.
KAFOSA, Chairman, Mr. Isederious Agola urged Saccos in the country which are offering FOSA services and have not been registered by KAFOSA to register immediately.
