Saccos way out of poverty, Kakamega residents advised


Jul 30, 2011

The Sacco Review Team
Chief Executive Officer: Peter Silsil
Editor-In-Chief: John Machio
Managing Editor: Jackson Okoth
Revise Editor: Muroki Gititu
Associate Editor: Stephen Makabila
Sub-Editor: Kiptanui Rutto
Marketing Manager: Peris Cherono
Credit Control Manager: Stane Kakai
HR & Administration Manager: Samuel Chebotibin
Accountant: Diana Chebet
Credit Control Officers: Rosemary Juma, Rosemary Kaika

By Enock Kipturgut
Kakamega County residents have been advised to join Saccos if they want to beat the poverty trap. Addressing cooperators from across Kakamega County who turned up at the Kakamega Rehabilitation School grounds to celebrate the 94th Ushirika Day, County Cooperative Commissioner Nathan Mukweso called on Sacco members to embrace the saving culture through cooperatives.
He reiterated that funds disbursed from cooperatives have played a key role in empowering the movement members economically through affordable education loans, loans for matatu transport business among other business ventures.
“If you are not a member of any Sacco or cooperative society, you are inviting poverty to yourself and your house,” said Mukweso
The Saccos from the five sub-counties of Lurambi, Navakholo, Ikolomani, Shinyalu and Malava showcased their best on this day reserved for cooperators to enhance the cooperative spirit globally.
Noting that the County has 150 active Saccos, the Commissioner urged youth and women to join Saccos to benefit from the affordable loan products to establish business ventures to make ends meet.
He challenged the Sacco managements to enact or review the Sacco by laws so that youth and women are involved in the cooperative leadership.
Mukweso called on Sacco members to patronise their Saccos by channelling their salaries and borrowing of loans from Saccos in a bid to strengthen the cooperatives’ institutional capital and hence enhance strong capital base.
In addition, the commissioner called upon the managements to update the Saccos’ soft ware systems to conform with the current technology for efficient service delivery to the members.
County Development Committee Chairman Thomas Adulla said it was an important day in the cooperatives calendar as it brings together cooperators to celebrate the achievement strides they have made in the improvement of their socio- economic well being.
He lauded Sacco managements in the County for the mobilization of resources from Sacco members and further loan disbursements thus improving the members’ livelihoods through affordable loans.
“It’s worth noting that out of the cooperative societies represented here today across the county, Invest and Grow Sacco (IG), Mufate (G) Sacco and Wevarsity Sacco have been licensed by the Sacco Society Regulations Authority (SASRA) to operate Front Office Services Activities (FOSA),” stated the chairman.
Adulla said out of close to Sh6 billion mobilized by Saccos in the county in the Share capital and deposits to members as at December 31, 2015, the five Sub Counties account for Sh4,609,733,561.
The five Sub Counties had a turnover of Sh1,071,299,505 adding that the total loans disbursed amounts Sh5,461798,536 against the cumulative County totals of Sh2,067,444,281 and Sh6,189,386,597 respectively.
“This clearly indicates the important role that the sector can play in contributing to the economic well-being of this county’s residents through creation of more employment opportunities both directly and indirectly

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