Saving Culture will save the Economy - President William Ruto

Nairobi, 

Thursday, 23 November, 2023 

McCreadie Andias 

President William Ruto has encouraged Women and youths to embrace saving models including table banking that will contribute to the development of the economy. 

The president was adressing the 14th Anniversary of the Joyful Women Organisation at Moi international sports complex at Kasarani, Nairobi County.

President Ruto said that the government is restructuring the table baking model to support micro, small and medium enterprises that will enable support the marginalized groups including women and youths. 

"We are remodeling the table banking model in our country to facilitate the empowerment of the micro, small and medium-sized enterprises through the Hustler Fund

This will enable us to support the financial inclusion of the marginalised and vulnerable groups — including the youth and women at the bottom of our socio-economic structure. "President Ruto said in a statement on Facebook. 

President William Ruto said the Government will double the resources available to women and youth groups by matching their savings to empower them as well as promoting a saving Culture. 

President Ruto revealed that he is yearning to see the government borrow more from the savings by Kenyans rather than foreign financial lenders. 

“Instead of us paying interest to other countries, we will be paying it to our people so that we can grow Kenya,” he said

President Ruto acknowledged the efforts by the first Lady to promote women empowerment in the country through organisations like Joywo which he lauded for its commitment to promote the Governments Bottom-Up Economic Transformation Agenda. 

“The organization has done much more, made greater strides and achieved significant impact throughout Kenya,” he said.

On her part, First Lady Rachel Ruto lauded the significance of table banking and the role it has played in helping women build enterprises that have improved their lives.

"Joyful Women Organization contributes to the economic empowerment of our members through financial inclusion, capacity building, trade and market access and MSEs credit,” she said.

The president was in company of Deputy President’s spouse Pastor Dorcas Rigathi, African First Ladies Monica Geingos (Namibia), Rebecca Akufo-Addo (Ghana), Angeline Ndayishimiye (Burundi) and Janet Museveni (Uganda) .

Also present were Prime Cabinet Secretary Musalia Mudavadi, Cabinet Secretaries Aisha Jumwa, Aden Duale, Susan Nakhumicha, Nairobi Governor Johnson Sakaja, among other guests.

The event also marked the launch of the Organisation of African First Ladies for Development’s-WE ARE EQUAL campaign in Kenya.