Have you joined a con Sacco?
 The tough lending regulations set by commercial banks have locked out many small-scale businessmen from accessing loans, so when a group of traders at Westlands joined the Kenya Land Sacco, they were relieved that they could finally get access to credit.
Though reluctant at first, Dorcas Odongo, a hairdresser, eventually joined the Sacco in February 2015 after an agent put her worries to rest.
“He assured me that the SACCO was registered and even invited me to visit their offices either in Kangemi or at the Krishna Centre in Westlands,” says Ms Odongo.
A visit to the Kangemi office later that month cleared her doubts so she joint the SACCO
“The agent told us that we could save as little as Sh100, and that after two months, one could apply for a loan; all you needed was a fellow member as your guarantor,” she says,  adding  that they remitted the money via mobile money transfer.
At some point the sacco introduced a new till number, claiming that the initial one was experiencing “jams”. Ms Odongo switched to the number and kept saving; after all, she  had a membership certificate.
“Sometime in early 2017, I wanted to borrow money  so I inquired from a fellow trader  whether she had ever taken a loan but she told me the SACCO had moved office,” she says, “I called the agent who introduced me to the SACCO, but she told me that she was no longer working  there. That is when I realised that the SACCO had collapsed.”
By then  Ms Odongo  had saved Sh25,000.
Another trader, Christopher Mwilu, joined the SACCO in February 2015, after being convinced to do so by his older brother, John Keo, who was already a member.

Source: https://www.nation.co.ke/lifestyle/dn2/Have-you-joined-a-con-sacco/957860-4523912-f6oge9/index.html