The few rotten apples undermine the spirit of saccos, which are an integral part of the government’s economic strategy to boost income-generating opportunities for Kenyans.
Saccos offer better interest rates than commercial banks and ease members’ access to credit.
The loans come in handy for school fees and investments such as buying land, a home or shares.
Savings and credit co-operative societies (saccos) are key drivers of the savings culture in the country, boosting members’ well-being and economic development.
In rural areas, they are a reliable source of funds for agricultural projects. But they are also active in the urban centres in several sectors, including public transport and housing.
