Luos challenged to embrace Saccos
Kisumu
Thursday, August 10, 2023
KNA by Milton Onyango
The Organizing Secretary at Bandari Sacco Mr. Joseph Otieno Bii has appealed to the Luo community to join cooperative societies to access affordable loans at minimal rates.
“I want to challenge my people of the Luo community that progress only trickles from the cooperatives also known as the savings and credit cooperative societies (SACCOS) because the SACCOS are more beneficial as compared to the banks because the clients never own the banks but are merely customers but the Saccos give you the opportunity to own your bank,” said Bii.
“Because when you save in a Sacco, you are entitled to your yearly dividends and again you will also benefit from the awareness and educational campaigns by the Sacco but the supreme advantage is that the Saccos do offer loans at a much lower interest rates than the banks,” noted Bii
He spoke during the annual sensitization workshop by the Bandari Sacco where he challenged the Luo community to embrace the Saccos so that they can join their contemporaries in the region of Central and Rift Valley where the communities have wholly embraced Saccos, thereby transforming their lives and income in big ways.
“When you analyze the fishing community in the lake region, you realise that they earn peanuts because they lack a strong Sacco that can look into their welfare and help enhance their earnings hence they are always exploited by brokers,” he decried
Bii called on the Luo nation to rally as a united front in forming Saccos to enable them reap from their identity as a Luo community.
“All I want to do is plead with the Luo community to embrace the culture of saving a small fraction of their income because it’s only through savings that small grows to big and it’s only done through sacrifice,” urged Bii
He expressed delight at the strides already made by Bandari Sacco in working with the local community since its inception in 1975 by port workers but membership opened and was rolled out to all Kenyans.
Courtesy ; K. N. A
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