- The Cooperative Fund will complement existing credit programmes and provide targeted support for agricultural production and other income‑generating activities.
Taita Taveta County has unveiled plans to establish a dedicated Cooperative Fund that will serve as a revolving financing facility for farmers, small businesses, and cooperative societies. The initiative is designed to ease access to affordable loans and strengthen financial services in rural areas.
County officials said the fund will complement existing credit programmes and provide targeted support for agricultural production and other income‑generating activities.
The move is expected to boost the county’s cooperative movement, which currently comprises 281 registered societies, including 20 ward‑based Savings and Credit Cooperative Organisations (Saccos).
Speaking during the 104th International Co-operative celebrations, County Executive Committee Member (CECM) for Agriculture and Cooperative Development, Danson Katuu Mzenge, noted that the county has been implementing governance reforms, leadership training, and capacity‑building programmes to improve management within the cooperative sector. He added that funding from the National Agricultural Value Chain Development Project (NAVCDP) has already supported several Saccos.
According to county records, 20 Saccos have received inclusion grants worth Sh19.2 million, while six others benefited from matching grants totalling Sh3.84 million. A further 14 Saccos are lined up to receive Sh10 million, which will be channelled into lending for farmers to expand agricultural productivity.
ALSO READ:
PS Kilemi refutes claims of diverting SACCO savings to infrastructure fund
County Cooperative Officer Mcharo Mwalugha urged cooperative leaders and ranch managers to strengthen accountability and transparency, stressing that effective leadership is critical for the sustainability of the institutions. He also encouraged societies to create opportunities that attract greater participation from young people.
Meanwhile, County Cooperative Development Forum Chairman Daniel Makoko underscored the importance of cooperatives in supporting household incomes and creating employment opportunities, particularly in rural communities. He said well‑managed cooperatives not only enhance financial inclusion but also contribute to social cohesion by enabling members to pool resources and access affordable credit.
The proposed Cooperative Fund is expected to reinforce these efforts by providing structured financing that empowers farmers, entrepreneurs, and cooperative members to invest in projects that drive growth and stability across the county.
By Masaki Enock
Get more stories from our website: Sacco Review.
For comments and clarifications, write to: Saccoreview@
Kindly follow us via our social media pages on Facebook: Sacco Review Newspaper for timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!
