Alfred Mlolwa, Qwetu Sacco Chairman

Sacco leaders urged to recruit more members

By Collins Akong’o

Savings and Credit Co-operative Societies(Sacco)leaders have been urged to recruit more member into the movement.

According to Qwetu Sacco Chairman Alfred Mlolwa this will help increase the national savings ratio, which currently stands at 9 percent as opposed to 30per cent outlined in Vision2030.

He said findings of  the Fin Access Report2014 indicates that Saccos are losing ground to   other financial institutions.

Mlolwa there fore encouraged Sacco members to go for production as opposed to consumption loans. “Good governance is key in the management

of  Saccos,” he added.

He also urged Government officials to register viable  Saccos .Andrew  Mbinga, the County Co-operative Commissioner noted that there was need for Saccos to be more innovative in order to attract and retain new members.

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