In a bid to revolutionize livelihoods at the grassroots level, Precoba Sacco in Mombasa County has been championing inclusive financial solutions tailored for small-scale traders and entrepreneurs. Speaking exclusively to Sacco World Magazine, Kessian Njoha, the Sacco’s manager, emphasized their commitment to uplifting individuals often overlooked by mainstream financial institutions.
Njoha highlighted the tangible impact of Precoba Sacco’s inclusive policies, noting how members, predominantly mama mbogas, small shop operators, and roadside traders, have experienced significant improvements in their lives through accessible credit facilities,
”Most of our members have been able to renovate their houses, some have paid school fees for their children, expand their businesses while others have been able to take care of their health problems,” Mr. Njoha said.
However, Njoha acknowledged a lack of cooperative education among some members, hindering their understanding of the economic potential of cooperatives. To address this, Precoba Sacco has implemented strategic measures, including regular member group trainings in collaboration with the Ministry of Cooperatives.
Moreover, the Sacco is embracing digital transformation, transitioning to digital money transfer platforms and providing comprehensive digital literacy training to members. This shift aims to streamline operations and improve accessibility for members accustomed to cash transactions.
Looking ahead, Precoba Sacco plans to maintain a robust online presence to engage with members and reach potential customers across the county. Additionally, the Sacco encourages youth participation, offering low entry savings options starting from as little as Ksh 100.
”We have been encouraging our members to bring their adult children to join the sacco. We have members where a whole household has joined the sacco. The father, mother and their children each has a savings account with us,” affirmed the manager.
Charles Mwachiro, chairman of Precoba sacco emphasized the importance of youth involvement in the cooperative movement, highlighting their role in future leadership transitions.
With a steady increase in membership and ongoing mobilization campaigns, Precoba Sacco is poised for continued growth, empowering grassroots traders and fostering economic prosperity in the community.
