Meru government initiated Saccos post Sh. 135m annual turnover
Post by Dorine
The Meru County Government Youth, Women and General traders backed Saccos posted a loan turnover of Sh. 135 million in the past one year.
The initiative is aimed at empowering and sustaining women, youth, and general traders businesses within the county through Sacco societies.
According to the County Executive in the Department of Cooperatives, Enterprise Development and Tourism Ntoitha M’Mithiaru the Saccos have mobilized savings totalling to Sh. 70 million since inception.
M’mithiaru was speaking in his office when he said the county government is strategizing on how to have the marginalized and special groups in the community benefit from the Sacco initiative.
"In the endeavour to improve living standards of the marginalized and special groups in the county, the directorate of Cooperatives has also registered a Muslim Sacco and is in the process of registering a Sacco for People Living with Disabilities where they will be given seed capital, both will be launched and operational very soon", he said .
He added that the directorate has registered 95 new cooperatives as per the guidelines under the Meru County Cooperative Societies Act, 2014.
"Registering the cooperatives at the county level has saved the people the expensive and tedious exercise of seeking registration in Nairobi," he said.