Siaya Governor Cornel Rasanga. He has set Sh200 million for boosting local Saccos. [Photo|nation.co.ke]
The Siaya County government has set aside Sh200 million to establish the Cooperative Development Fund which will aid in boosting the performance of local cooperative groups and Sacco’s.
Speaking when he made public the initiative, Siaya County Governor Cornell Rasanga noted that his County government was keen on facilitating the local Sacco’s to help boost the regions’ economic status.
Rasanga stated that the fund will be availed to all enterprising Sacco’s and Cooperative groups that have demonstrated steady progress and have contributed in uplifting individual members’ socio-economic wellbeing.
Multimillion funds, the governor said was willing to increase Sacco’s share capital thereby providing more opportunities for access to loans by enterprising citizens of Siaya County.
Rasanga observed that fishing Sacco’s were an instrumental docket in his economic improvement since fishing was a key contributor to the County’s revenue base.
Singling out for recognition, Rasanga disclosed that during his first office tenure, the Trade, Industry and Cooperative department oversaw the construction of more than 17 market shades and 96 toilets in market centres across the County.
He continued to state that five markets were refurbished, four modern washrooms constructed and 221 solar powered lamps were installed in marketplaces.
Rasanga also said that the cooperative department provided supervisory support to the 247 cooperative Sacco’s within the Devolved unit with a membership of 51,655 individuals and a share capital of Sh577, 413, 00.
Of Importance to note, Rasanga said that his leadership was providing soft loans to a tune of over Kshs 10,000,000 to small-scale traders locally branded as ‘abedo’ to boost their scope of businesses.