Page 27 - Issue 48_press_efile
P. 27
SACCO INDUSTRY WATCH
Qwetu SACCO urges
housingmembers to invest in
By Solomon Junior
“I urge members to increase banana Sh440 million and dividends to members
Qwetu SACCO has urged its members production to meet the demand of the at Sh110million in 2019.
to consider investing in the fast banana processing plant. We are keen
growing housing sector. to ensure that our members venture into Qwetu SACCO has also projected a 15.26
the best economic activities,” he said, per cent growth in its assets in 2019 to
Qwetu SACCO Chairman Alfred Mlolwa adding that the industries will ensure hit Sh2.5 billion.
said the venture was a sure way of farmers get a permanent market.
growing income, as it is among the key Further, it targets to make key
pillars of the government. He noted that value addition will be improvements in deposits, savings, share
critical in helping farmers diversify the capital, and loans among other areas.
He said Co-operatives were best suited products to produce flour, chips, jam,
to help the government in realization of juice and, banana wine, a local brew Erastus Gonzi, Taita Taveta County Co-
decent and affordable housing for all, called ‘mbeke’, “he said. operatives officer encouraged all Co-
noting that Public Private Partnerships operatives in the County to work on
will attract more investors in the housing He disclosed that the SACCO has entered solution based products that would help
sector. into a partnership agreement with several members grow economically.
agricultural sector players to ensure that
“The government will succeed easier the Society gets more customers from He said over 120 Co-operative
if it partners with Co-operatives. We the fast growing sector. organizations have so far been registered
recommend the newly established Kenya in the County.
Mortgage Refinancing Company to work “Agricultural sector has received a lot
closely with all Co-operatives involved of attention in Taita Taveta especially “We have over 13 different types of Co-
in the housing sector, including KUSCCO, horticultural products for export and operatives that include SACCOs, mining,
NACHU and other apex bodies to make banana in Taveta Sub- County. The fact transport, agriculture, housing, ranching
sure the agenda succeeds,” Mlolwa said. that this sector has complete value chain Co-operatives among others. All these
actors from production to market makes organizations can positively impact
Affordable housing is one of the pillars it a guaranteed source of income.” economic growth of this County if they
of President Kenyatta’s Big Four Agenda. all invested in the right sector,” Gonzi
The government targets to construct He said the SACCO’s quick development said.
500,000 decent, affordable housing was as result of accelerated increase in
units by 2022. membership and contributions that have At least 64,228 people in the county are
subsequently increased the institution’s registered in different Co-operatives with
Addressing journalists during the lending capacity. a total share capital of Sh190 million.
Ushirika Day celebrations in Voi, Mlolwa
urged members to invest in fruit farming On the SACCO development agenda, Mr Gonzi said there is a lot of untapped
ahead of the launching of the multi- Mlolwa revealed that Qwetu SACCO’s potential in the County especially in
million banana processing and value income is projected to grow to over three specific sectors; ranching, large
addition plant in Taveta town, Taita scale agribusiness and the mining value
Taveta County. chain.
Qwetu SACCO CEO Mr. Charles Kaba in his office Qwetu SACCO bookshop
25| SACCO Star Magazine
