Nakuru Governor Kinuthia Mbugua has urged residents to embrace saving by joining co-operatives. Stating his government was committed to safeguarding their money. Kinuthia noted the County development depended on savings from residents as this played a significant role in poverty eradication.
“There is no considerable domestic development that can be achieved without saving,” he said adding that there is no small amount of money when saved.” He said the Nakuru County Government had provided a conducive environment for Co-operatives and other financial institutions to thrive. The Nakuru Governor, who spoke when he officially opened Wananchi Sacco Nakuru Town Branch, called on Saccos to be creative and innovative in the services they offer and noted that the town was back on its feet as a business hub.
He said his Government was committed to strengthening the Co-operative movement in the County and enhancing partnership. “I am glad we have supported Bodaboda operators and others in the transport sector to establish Savings and Credit Co-operative Societies that are now functional and doing well,” he said. He noted that through the support of the county government, Nakuru musicians have formed a successful society which is now planning to buy land to develop estates.
On Co-operative development in the county, the Governor said the sector had accumulated Sh7 billion in members’ savings, over Sh4.7 billion in deposits and membership of more than 165,000. The county has seven Saccos operating Front Office Services Activity (FOSA). Meanwhile, Nakuru residents have been cautioned against people running pyramid-like organizations all over the County. “These groups of people are enticing members of the public to save with them and get returns or loans 10 times their savings. Just keep off such individuals,” said Nakuru County Director of Co-operatives, Patrick Mak’Anyengo. He called on area residents to be cautious before engaging such organizations and if necessary, seek information from his office.
By Munene Maina.
