Embrace Saccos movements, Oparanya tells Kenyans

 Sirisia MP John Waluke and Cooperative CS Wycliffe Oparanya at Anglican Church of Kenya ACK Sibanga during a consultative forum with coffee saccos in Trans-Nzoia. [Osinde Obare, Standard]

Cooperatives Cabinet Secretary Wycliffe Oparanya has urged Kenyans to embrace saccos as a reliable way to improve their livelihoods.

He said saccos have transformed lives globally and expressed concern over low uptake in the sacco movement in the country.

Addressing Members of Shirikiana Saccos Dream from Bungoma, Trans-Nzoia, Vihiga, Kakamega and Busia counties, at Anglican Church of Kenya, Sibanga, Trans-Nzoia, Oparanya said saccos promoted good saving culture and asked Kenyans to form and join saccos.

Unlike financial institutions that require one to provide a guarantee and charge interest, saccos lend money to their members on affordable conditions.

"The cooperative movement is the reliable means to uplift the living standards of Kenyans. It encourages a good saving culture and sustains livelihoods," Oparanya said.

He told the gathering that he had travelled to many countries such as Germany and Canada and noted that the majority of their citizens have embraced saccos, which are turning around their lives.

"In Canada, one Sacco has over 1 million members, while there is a Sacco in Germany with 3 million people in Kenya; it is Unite Us, which has Mt Kenya with 560,000 members," he said.

Members of Shirikiana Saccos Dream from Bungoma, Trans-Nzoia, Vihiga, Kakamega and Busia counties, at the Anglican Church of Kenya, Sibanga, Trans-Nzoia. [Osinde Obare, Standard]

For Kenyans to attract local and international funding, they should be ready to form saccos, said the CS.

He said many people worldwide have depended on and survived through saccos, adding that when Kenyans come together and form saccos, they are on the right track to economic success.

He argued that the cooperative movement has transformed lives and helped many people to alleviate poverty.

The CS disclosed that at least 28 million Kenyans have borrowed up to Sh90 billion from the Hustler Fund.

Oparanya, accompanied by Sirisia MP John Waluke and Gideon Oyagi, Administrative Secretary at the Ministry of Cooperatives, announced that the government has disbursed Sh50 million to Shirikiana saccos and that the same Sacco is set to benefit Sh500 million from the World Bank.

He lauded some Kenyans for forming saccos, which are transforming their lives. I have seen small entities grow to huge saccos and support families," he said.

"The government has already disbursed sh50 million to the sacco and we have negotiated with the World Bank for funding of Sh500 million to support this sacco," he said.

He challenged Kenyans to direct their energy to development-related issues.