By Boniface Mulu
Kitui Teachers Savings and Credit Cooperative Society Limited chairman Reverend Augustus Munuve has revealed that the Sacco’s education and training programmes are meant to enable the Sacco to fulfill its statutory obligations.
Speaking during this year’s Annual Member Education Day organized by the society at Ithookwe primary school in Kitui Central District, Reverend Munuve added that it is an opportunity for the society leadership, the general membership and the staff to engage and strategize on how to grow and sustain the Sacco brand.
‘Saving is the process of preserving money for future use. It is the action of putting aside part of the current income in order to consume or invest it later,’ he added.
He added that research has shown that 90% of members who borrow loans before planning end up using the loan on unnecessary projects then later struggle to pay loans which didn’t benefit them.
He urged the Sacco members to ensure they use the financial support they receive from the Sacco prudently by investing in income generating activities to improve their living standards and increase the return on investment.
“Prudent borrowing refers to borrowing wisely. Entrepreneurship is important since it has the ability to improve living standards and create wealth,’ he pointed out.
He explained that despite running a business being an uphill climb, the journey is as meaningful as the destination.
“Entrepreneurship is not for everyone. That is not to say it is reserved for a special elite. It simply means that entrepreneurs are cut from a different cloth and are driven by different values than others,” the cooperator added.
He added that becoming an entrepreneur helps one to join a group of ambitious and helpful people who believe in bettering themselves and the world.
He urged the group members to explore investment and project opportunities within their respective areas to ensure they are active and have some source of income for the group.
Kitui Teachers Savings and Credit Cooperative Society Limited was started in 1974. Its headquarters is in Kitui Town. Its current membership is about 27,000. It has six branches namely Mwingi, Kyuso, Mutomo, Mutitu, Makindu and Wote. It also has four satellite offices in Kabati, Masii, Matuu and Tseikuru.
