Sacco members wins Sh3.2m house in savings promo

Mwalimu National Sacco Chairman Joel Gachari (right) congratulates Tom Charigah for winning a three-bedroom house. [Peterson Githaiga, Standard]

Kenyans have been urged to save their income through Sacco's to improve their living standards.

Mwalimu National Sacco Chairman Joel Gachari said saving through Sacco is the best better way to invest in the prevailing harsh economic times.

Mr Gachari spoke in Kajiado County on Thursday during an award ceremony for Tom Charigah who won a three-bedroom house worth Sh3.2 million through a savings promotion scheme.

The winner, who has been a member of the Sacco for over 40 years, received the house situated at Kisaju area in Kajiado County after topping up his share capital to Sh500,000.

"I am very happy to be announced the winner of a three-bedroom house here in Kajiado County. I can now retire peacefully knowing that I have a house to live in," said Chariga.

Last year Mwalimu National Sacco started restructuring all its non-profitable investments in a move aimed at making it more competitive in the market.

This follows the ratification of the proposal by delegates who attended a special general meeting at the Bomas of Kenya.

The Sacco's assets are worth over Sh64 billion.