Contractors in Kisii County who have for a longtime had problems in borrowing loans from banks have now launched their own savings and cooperative society.
The Kisii County Contractors Association will enable their members to borrow loans at very low interest rates.
According to the association's chair Mr Kennedy Mariera, many contractors have been taking loans from banks to undertake government projects but the government on the other hand fails to pay them in time to repay the loans.
Mariera said that once the loan repayment delays, the banks start 'disturbing' the contractors to the extent of threatening to auction their property to recover money owed by the contractors.
He said the contractors' association was started in 2014 and incorporated contractors and small scale suppliers in Kisii County.
He added that the Sacco will loan its members instead of them going to banks for loans whose interest rates, he said, were high.
“When we go to the banks for loans we are given many conditions to fulfill before we are loaned but as an association of contractors we will now have our own Sacco where we will get our finances at very low interests,” he said.