[Uasin Gishu County Trade and Industrialisation CeC Philip Melly. Photo/Hivisasa.com]The first ever Military Veteran Sacco has been launched in Uasin Gishu County. According to the Trade and Industrialisation CeC Philip Melly, the Sacco comprises ex-military officers who participated in the Second World War, their family and their domestic workers. "As a county government we have been supporting women and youths but we have now decided to empower the elderly or retirees financially through loaning them funds," said during an interview after the launch of the Sacco. He added: "The sacco has now five hundred  members. We will give them all the support they want for them to stand on their on.''He reiterated, they would be trained on the importance of saving and how to put into good use the money they loan through the Enterprise Development Fund. "We want them to engage in businesses that are income generating. We don't want a situation where they will be unable to repay the money back,'' noted Melly.The Cec hinted that through its Enterprise Development Fund they were targeting to set Sh1 billion as revolving fund for more cooperatives to benefit.''In the last four years we have disbursed ninety million Kenya shillings annually to cooperatives at an interest of 5 per cent. We will increase the amount to at least one billion in the next financial year," he added.The Sacco Chairman James Kipkorir said it was officially registered in February and was expected to attract a membership of over 600 members at the end of the year. "Membership fee is only Ksh1200 and one should at least have 1,000 shares. We are calling all the military veterans to join the Sacco since they will be empowered financially and won't depend on anyone for funding," said Kipkorir.

Share news tips with us here at Hivisasa