By Fredrick Odiero
Cooperative Alliance of Kenya (CAK) Executive Director Daniel Marube has called on Kenyans to cultivate a saving culture by joining Saccos.
Marube urged young people to invest in Saccos since there is life after retirement.
He posited that the cooperative movement is a key contributor to Kenya’s economic growth.
“The cooperative movement contributes up to 45 per cent of Kenya’s total GDP and boast of 13 million members who directly or indirectly derive their livelihoods from the sector. This shows the importance of the sector in financial inclusion and attainment of the Vision 2030,” asserted Marube.
The CAK boss was speaking during IG Sacco’s recent Annual Delegates Meeting (ADM) held in Kisumu where he was the chief guest.
He said due to the growing membership in cooperatives, Saccos needs to develop new services and products to meet the evolving demands of the cooperative sector and serve customers effectively.
Marube lauded the move by the IG management to focus efforts on growing its membership and capital base, while maintaining a high level of professionalism in its service delivery.
IG Sacco Chairman Kennedy Keya said the Sacco had recorded an upsurge in membership despite the Covid-19 pandemic.
“We still observe there are so many potential members out there we have not recruited,” Keya said.
The Sacco targets at least 2,400 members annually. Last year, it recruited 1,575 members as compared to 834 in 2020.