Marketing Manager, Dorothy Makena (R) with a youth helping a grandmother after winning a motorbike in a recent competition. Looking on is the Sacco CEO, Wachira Ndegwa (2nd L) and a Sacco official.

Southern Star Sacco adopts ICT to tackle ageing crisis

By Kiptanui Rutto.

Though the issue of aging membership has triggered concerns among a number of Savings and Credit Co-operative Societies(Saccos), counterparts in the Eastern region are less worried about this as they have set plans to tackle it.
Southern Star Sacco Society Limited Human Resource manager, Nicholas Mugambi who is the Acting CEO as the CEO was out of the country said they have plans already in place to counter the looming crisis.
Given the ubiquitous nature of technology and new media use among the youth. Mugambi said going digital is the best way to reach them and change their attitude towards the Sacco system.
“Mobile phones are the best gadgets to use, therefore, we have introduced the avenues through among others, mobile banking platform”.
“We also have our staff who go round collecting whatever members need to save and in the evening, they get an automatic update on their mobile phones through the Sacco system notifying them of their savings,” Mugambi added.
He said apart from the male youth, they have noticed the girl-child has also been neglected and needs to be specifically targeted. He noted that females are always much honest than their male counterparts.
“In this regard, we need to invest on getting the female youths on board since they are sidelined, when we say youths, most of them, if not all are males. The women are honest to their pledges compared to our brothers,” Mugambi said.
Francis Kirimi, the deputy CEO in charge of finance echoed the sentiments, saying though Boda boda business has employed youth, many of them males, they need education on savings.
“Most of these youths think the Sacco belongs to the old but they should understand that we offer best services to all. We are better than banks,” he said, adding that they need to improve their inherited farms and open new businesses to expand since they have strength and better ideas.
The officials pointed an accusing finger at the National and County governments over the plight of farmers and business people, saying they have affected the flow of the members’ deposits thus affecting Sacco operations.
Transnation Sacco Deputy CEO, Gabriel Njagi who was speaking in their offices when Sacco Review visited said youths make the larger population in the country but they do not know the importance of saving. He said they have also provided them a platform to join the teacher’s Sacco and get necessary assistance.

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