August 17, 2022

Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya

The Leading Newspaper for Co-operative Movement in Kenya

Tap youth market or be doomed, Co-op boss warns saccos

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By Stephen Makabila
The Government has made a clarion call to Saccos in the country to introduce youth friendly products to win over young people, who form majority of the Kenyan population, into joining saving cooperatives.
Commissioner of Co-operative, Philip Gichuki said some of the current products and services offered by Saccos were not attractive to youth membership, and the result was that young Kenyans were shying away from Saccos.
“Cooperatives must grow with time and target youths for future membership through friendly products. You cannot tell a youth about pension. Let there be products that are attractive to youths,” said Gichuki.
The Government’s concern comes in the recent wake of an emerging crisis over the ageing population in Sacco membership in the country. While most of the current Sacco members are ageing and becoming inactive, there are fears young and energetic professionals have not fully embraced the idea of belonging to saccos