Nakuru County Chief Officer of Cooperatives Kibet Kurgat has revealed that the county government has plans to provide low interest loans to registered cooperatives and Saccos through a revolving fund.
Speaking during a meeting with stakeholders in the dairy sector, Kurgat revealed that all the necessary plans to launch the loan product at the beginning of next year have been made, the only pending task being the formation of a board to oversee the fund that will offer loans at an interest rate of 4-6%.
He mentioned that Governor Susan Kihika’s administration is focused on strengthening cooperatives to better serve their members.
“The county government is dedicated to reducing poverty and empowering residents by encouraging their participation in the cooperative movement and offering them affordable loans,” he said.
He highlighted the success of cooperatives in alleviating poverty and enhancing members’ bargaining powers when selling value added products.
He thanked members of Nakuru County Dairy Cooperative Union Limited for coming together to find solutions to challenges in the dairy sector.
By Amos Kerich
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