Saccos have been called upon to extend their services to rural areas to tap the huge population of Kenyans in the areas.
According to UKULIMA Sacco CEO Richard Nyanga, saccos are the best avenue of capturing millions of Kenyans still without bank services and put them into organized and regulated financial management which can help them access credit facilities for economic engagement.
Speaking during the official launch of Ukulima FOSA in Nakuru, Nyanga said most of the rural Kenyans have no or limited interaction with credit facilities which greatly hampers the growth of business.
"We have come so that we can be able to reach out to the unbanked and banked with a view to enabling them access favourable credit facilities," he said.
The Sacco which boasts of an asset base of over Sh10 billion, according to Nyanga, has grown in leaps and bounds due to the proper management of its lending services saying the Sacco Societies Regulatory Authority (SASRA) has helped most of the saccos to be lean and efficient in their financial obligations.