Nakuru hawkers and street traders association chairperson Simon Sangale believes the formation of trade saccos within the business community was long overdue.
He said such organisations had proven worthwhile across the world.
Speaking on the sidelines of the launch of the Fruit Market Sacco on Saturday at the Summit Resort, Sangale further called on the county government to fully support them so as to help them become stable.
"Some businessmen and women have brilliant business ideas but lag behind due to lack of funds to turn around their fortunes. Seeing county government representation at such functions shows that this is a new dawn," he said.
He further called on the sacco's management to be professional and accountable arguing that handling people's hard-earned money can be tricky especially when the responsibility is given to non-committed individuals.
"Lets not have a crisis in the near future as was the case with former co-operative societies that made many Kenyans especially farmers lose millions," he added.
The sacco is the first of its kind in Nakuru County involving traders with middle-level earnings and street vendors.