Uasin County CEC in charge of Trade, Industry and Tourism Philip Melly addressing the press in Eldoret town Wednesday, October 4, 2017 [Photo: Elvanis Ronoh]
Uasin County CeC in charge of Trade, Industry and Tourism Philip Melly has advised the youth to join Saccos and invest wisely.
He said Saccos were transforming lives of many across the globe and improving their livelihoods.
"Saccos have bridged the challenge of accessing capital by putting the little one earns in a Sacco,” he said in Eldoret town, Wednesday.
"I urge youths who at times might feel like they don't have enough to save to believe in power of saving and investment despite their little earning," he added.
He, however, cautioned youths against borrowing and spending the money in luxury which do not have a return.
"It is sad that some youths borrow loans from banks Saccos to buy luxurious items. They should put the money in income generating projects since at long last the will repay the amount," he said.
Melly reiterated the county government’s commitment of reviving all collapsed cooperative Societies through funding.
“In Uasin Gishu County we have 562 registered cooperatives societies and we have revived over 50 cooperatives in the last 3 years,” noted Melly.
He asked members of cooperative societies to report any misuse of funds by officials in charge of their societies, promising that stern action will be taken against those found culpable.