Kenyans have been urged to save in Saccos to avoid being exploited by banks and other money lending institutions when they need loans.
According to Urithi Premier Sacco Chairman Pius Thuku, despite the regulations being imposed on banks by the government to cap their interest rates, Kenyans are still having a hard time accessing loans.
Thuku said saving in Saccos means one can access their money and other services easily as compared to banks.
Speaking in his office on Monday, Thuku said Saccos are owned and run by members, making it easier for the members to get the money they need to grow economically.
He called upon the government to use well-established Saccos in the country to reach to members in the grassroots and also grant them loans so they can benefit from the government-controlled funds.
“Most of Kenyans are members of Saccos and it would be easy for them to access the government funding if it is channelled through the Saccos. Let the government use us to get to Kenyans,” said Thuku.
The chairman added that Urithi Premier Sacco has been and will continue to educate Kenyans on the need to save and grow economically rather than being slaves of loans without savings.
“The Sacco has been offering money related education to the members and the outside community since its inception and we will continue to deliver our mandate to our members to ensure that they learn how to manage money,” he added.
#hivisasaoriginal