Saccos seek revolving fund

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Feb 24, 2017
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EMBU

Embu County Government has been urged to establish a revolving fund where Saccos can borrow funds at low interest rates and loan to their members.
Daima Sacco Chairman John Njeru said the County Saccos were the best wheels for poverty eradication since they empowered small traders, farmers and youths to expand their ventures through affordable credit and saving facilities.
Njeru said despite their input to the county’s economy, Saccos face challenges, especially lack of enough funds to loan to their members.
He was speaking during the Daima Sacco Junior Account holders celebrations and marking of the institutions 24 anniversary that was graced by Governor Martin Wambora at Kangaru School.
The three top Saccos in the county which include Daima, Nawiri and County Saccos have an asset base of over Sh2 billion and the loans advanced to tea farmers alone are close to Sh300 million.

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