The commissioner for cooperatives, Mr. David Obonyo has urged the small investment groups commonly known as Chamas to invest and patronize in Saccos.
Speaking during the Bandari DT Sacco 9th Annual Chamas Symposium and Trade Fair, Obonyo said to enhance financial inclusion, the Chamas should save in the saccos to spur growth in the sector.
“Bandari is a vibrant sacco, we have no doubt your money is more secure. If that’s the case, bring more savings into the sacco,” he said.
The commissioner further urged the Chamas to patronize Bandari Sacco products, save and ensure that borrowed loans from the sacco are repaid. This he said, will foster continuity and guarantee that both the sacco and the Chamas continue to grow.
He further urged the Chamas to take advantage of the government’s initiative, The Blue Economy, in the coastal region.
“The Chamas need to focus on the Blue Economy initiative since most of the resources will be geared towards the initiative thus those in the sector will benefit heavily from it.” He advised.
Mr. Obonyo moreover showered praises to Bandari Sacco for its tremendous growth in the sector, terming it as the lead Cooperative in the coastal and North Eastern region thus the sacco he said has to lead by example and win.
He noted that the society took a wise step by organizing the symposium, an educative forum which enables the members to share their experiences, network, share ideas and partner further with other stakeholders in the industry in order to strengthen the sacco.
Obonyo equated the sacco model to the Kenya kwanza Bottom-up economic model, which addresses the needs of the citizens from the bottom of the pyramid. This, he said the government focuses on the needs of the hustlers, the likes of the Chamas.
He however challenged Bandari sacco to tailor their activities towards the needs of the members in the Chamas and the Sacco in general to foster growth.
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