By Munene Maina
Saccos have been asked to embrace modern technology in service delivery.
Equity Bank General Manager in charge of Corporate Banking Moses Ndirangu said use of technology will strengthen saccos operations and ensure they match up to the competition.
Ndirangu called on leaders in co-operatives to fasttrack the process of expansion to ensure the growth and development in the sector.
“The banks are heavily regulated compared to saccos. You can take advantage you have in regulations to grow your business before things get tight in future,” he said.
Speaking at Kirinyaga County during 41st Ollin Sacco Annual General Meeting held at Kutus Primary, he said Equity bank was ready to assist societies achieve their development goals. During the AGM Ollin Sacco declared a 11.7 percent interest on deposit and 15 percent payment of dividends.