Saccos told to embrace instruments available for savings to grow

 

Saccos Regulatory Authority{SASRA} Chairman Jack Ranguma{C} awards the Longest Serving Keystone Sacco Member during its 45th AGM held today in Kisumu-Story and Photo By Dickson Odhiambo

March 18, 2023

Saccos told to embrace instruments available for savings to grow

THE Savings and credit Cooperatives Societies across the country have been told to fully embrace the instruments available for savings to grow.

Saccos Regulatory Authority {SASRA} says this is the surest way for Saccos across the country to grow and serve their members effectively.

The new SASRA Chairman Jack Ranguma says one of the available instruments for savings for Saccos is the hustler funds.

Ranguma says the hustler funds will be distributed through efficient and effective Saccos across the country.

Addressing members of the Keystone DT Sacco in Kisumu today during their 45^th Annual General Meeting, the Sasra Chairman said Saccos are the best place to distribute hustler funds hence they should be ready to take up the issue.

The Sasra Chairman the fund is available to anyone at any time hence Sacoos can take advantage of this situation.

Ranguma says the other funds available is the mortgage lending available at affordable rate from Saccos across the country.

He says this is an opportunity where Saccos can give a mortgage loan to their members and get back the funds from the Kenya Mortgage Re-finance Company at a rate of 5 percent.

“These are now achievements that are now available and we must take advantage of such because they are very much affordable,” Ranguma says.

The Former Governor of Kisumu has also urged Kenyans to join Saccos in Large numbers where they should invest and grow.

He says Saccos present various opportunities to invest and grow very fast.

He urges residents of Nyanza region to be active in the available Saccos, adding that there is need to increase the number of effective and efficient Saccos within the region.

He adds that out of 300 Saccos in Nyanza region, only 11 Saccos are active and efficient.

Ranguma has rooted for election of good leaders to spur growth of Saccos across the country, adding that prudent management of Saccos will make them grow tremendously.