Residents of Nyanza region have been advised to form and grow their own Saccos.
Kenya Union of Savings and Credit Co-operatives, marketing executive western region, Moses Nyadiango, said teachers have the capacity to build their own Saccos.
Nyadiango said Nyanza is a fertile ground for other Saccos from outside the region thus the need for a home grown Sacco for the area.
“There is potential in Nyanza and our teachers and other business people must rise up and form their own Saccos,” he said.
He said there are many Saccos spread across Nyanza region but there is none owned by teachers from the region.
Speaking on Saturday when he attended Kisumu Teachers Sacco Limited (KITE) annual general meeting at Lions High School in Kisumu, Nyadiango said KITE need to be improved through recruitment of new members.
He said teachers in the region should embrace KITE by bringing in new members to enhance its financial portfolio.
“KITE has weathered many storm to reach where it is, let our teachers join in mass to ensure its financial base is enhanced,” he said.
Nyadiango said KITE need to expand even to other areas but only if it is given support.
He further announced that (Kenya Union of Savings and Credit Co-operatives) KUSCO is giving out loans to teachers and urged them to come and apply.
The officer said they also give individual loans for developments like house construction and told teachers not to be held captive in certain financial institutions that are charging high interest on their loans.