Harness Saccos to drive investments

This past weekend, cooperators from across the country congregated at various points to mark this year’s Ushirika Day, an important occasion that is often under-appreciated despite its potential to encourage wealth creation.

Co-operatives have proved over the years to be among the most effective ways of first, aggregating farm produce for production — an important step in the food and beverages value chain — and in return, they have helped rural families to avoid falling into poverty.

Indeed, in areas with strong co-operatives, the lives and livelihoods of farmers and their families have improved over time, as has the quality of life of the surrounding communities, which benefit from the attendant flow of money into rural economies.

That is why it is critical that the government encourages the growth of the cooperative movement, which offers great opportunities for members to grow their savings and borrow at affordable rates to grow their investments and put children through school.

Without Saccos, there are many farmers who would have struggled to educate their children. Yet, the beneficiaries are now professionals in various fields, playing a major role in running industries, creating jobs and driving the growth of the economy.

Indeed, it will be important at some point for the government to audit the role that co-operatives have played in creating the large pool of professionals that have made Kenya competitive in terms of attracting foreign investments and fostering the growth of locally-founded firms.

https://www.pd.co.ke/features/opinion/harness-saccos-to-drive-investments-188740/