By Fredrick Odiero
SASRA Chairman Jack Ranguma has expressed concern over the low asset base levels of Saccos from Nyanza region.
Ranguma said Saccos in the country have a total asset base of Ksh 886 billion yet Nyanza region controls a paltry Ksh3.6 billion (0.2%) of the total amount.
Speaking during Keystone Sacco’s Annual General Meeting, Ranguma lamented further that Kisumu County only has 11 active Saccos and called for concerted efforts to reverse the trend.
He revealed that the government has an elaborate programme aimed at reviving the Sacco sub sector in the country.
“Saccos should invest in giving out mortgages,” he advised, further urging members to elect leaders who have visions and foresight for the organizations.
The former Kisumu county governor advised Saccos to operate as business entities since SASRA aims to ensure Saccos operate in a structured manner.
The chair concluded by advising people to invest more in Saccos since they have more flexible terms of engagements.
