By Dennis Bett.
Elgeyo Marakwet Youth Bunge Sacco has embarked on a mission to establish income generating activities to empower members.
It is planning to partner with Safaricom and other financial institutions to set up business activities like M-PESA, Bank agents and building plots and homes for rental purposes.
Speaking during the 2017 Annual Delegates Meeting in Iten Town recently, the Society Chairman Nathan Tanui said that the Sacco is heading in the right direction and had its savings clocking Sh800,000 as compared to only Sh85,000 when it was established in 2012.
He said they have already identified a plot to buy for its member for the purpose of building mansions for renting and generating income.
“The society is growing tremendously and we are on course in offering efficient services to members. Our M-Banking service has become more successful as our members can easily transact in the comfort of their work places,” he added.
Tanui said that they are targeting a membership of 3,500 within this financial year so as to ensure that the youth in the county are empowered.
He said Boda boda business has been doing well with the youth but they have decided to empower farmers to major in farming and take related loans as the area is favourable for agriculture.
The society’s CEO Paul Kipkalia said they are currently educating the farmers to embrace crops like cabbages which becomes ripe within a short time and can easily look for market for them. Kipkalia warned the members against defaulting on loans saying that stern action will be taken against culprits.