By Malachi Motano
Savings and credit cooperatives societies (Sacco) will have to focus more on diversification to create wealth for their members in 2021. According to the Industry players, the sector is grappling with loan re-structuring to pick up business in the continued wake of Covid -19 pandemic, as members expect their hopeful returns popular as dividends.
Chris Agunga is a director at Kimisitu Sacco, “2020 dealt a blow to Sacco incomes due loan restructuring. Reducing over reliance on interests income for members would be key. Saccos must therefore support each other through cross borrowing as part of maintaining liquidity.