Ranguma urges businesspeople to form Saccos for prosperity

Sacco Societies Regulatory Authority (SASRA) Chairperson Jack Ranguma has urged businesswomen in Kisumu County to form Saccos at the grassroot level.

Addressing over 500 women groups in Kisumu, Ranguma stressed that through Saccos, women will gain economic empowerment.

“Saccos will enable you to access loans and other benefits. You can also market your products locally and abroad through Saccos,” he pointed out.

The former Kisumu governor lamented that Kisumu county only has 11 active SACCOs and called for concerted efforts to reverse the trend.

He also lamented that Saccos in Nyanza have low assets base: total assets of Saccos countrywide is Ksh886 billion, yet Nyanza controls a paltry Ksh3.6 billion only, accounting for only 0.2 %.

The SASRA boss urged Saccos in the region to pull up their socks and to elect leaders who have vision and foresight for the organizations.

He revealed that the national government has an elaborate programme to revive the Sacco sub sector, revealing further that SASRA aims to make Saccos operate in a structured manner and to revive dormant coops.

By Fredrick Odiero

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