Saccos in Mombasa urged to exercise good leadership, governance to boost operations

Saccos in Mombasa County have been urged to exercise a high degree of good leadership and good governance for effective operations.

Speaking to Sacco Review in Mombasa Township recently, Mombasa county Cooperative director, Nelson Nyoro said that good leadership and good governance will retain members in the Saccos.

He warned that bad leadership and bad governance will make members to withdraw in large numbers and eventually join other Saccos where they will be comfortable.

“Transparency, Integrity, accountability and honesty will make Sacco top officials in the region to win trust from the people they serve,” Director observed.

Nyoro, also urged residents in the county who have not joined Saccos to do so and invest heavily, adding that the move would enable them to get bigger loans at the end of the transaction period to accomplish their personal development projects.

Nyoro also noted that many people in the country have managed to implement their personal development projects through taking loans from their respective Saccos.

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“Joining Saccos in the country is therefore the right direction to go”, explained Nyoro.

At the same time, he advised Sacco members in the region to exercise a high degree of saving culture, rather than consuming culture which will lead them to a great loss in future.

Turning to borrowing of loans, the Cooperative director asked Sacco members to borrow loans wisely, hence use them for the intended purposes only, but not to divert it for other unplanned uses.

He, further urged members to pay their loans promptly so as to enable others to benefit from the same loan products.

He also warned members against defaulting, further noting that defaulting was a serious offence when one is blacklisted by Credit Bureau Reference (CBR) will not get loans from their respective Saccos forever.

By Tsozungu Kombe.

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