Women groups from Gusii region can now access loans from local Saccos after the management reduced lending rates from 6 to 4 per cent annually.
Borabu Sacco management on Wednesday reached the decision after a series of meetings with leaders of different women groups from the region.
According to the Sacco’s Operations Director James Moturi, the loans will however benefit groups which have been in existence for the last five years and that are duly registered to avoid any inconveniences to the Sacco.
“We held a series of meetings with women groups upon their request and we arrived at that decision. The rates are a bit low and we expect many of them to work closely with the Sacco for the improvement of their livelihoods. We will however only work with those that have been in existence for the last five years,” he said.
He said the management was also in discussion with youth groups from the region to help them start businesses by also reducing interest rates to the level they can be able to afford.
“We are having more youths also willing to take loans at those friendly rates and we want to give them the opportunity. May be as a management we will allow them but discussions are ongoing. All we hope for is having more youth groups ready to engage in serious business,” he added.
He said the new rates will be effected from October and the management would communicate in case of any changes.