Mining and Petroleum Chief Administrative Secretary (CAS) Dr. Eng. John Mosonik has asked residents of Bomet County to either join the existing local cooperative societies or form new ones.
Eng. Mosonik said cooperatives offered readily available and much cheaper loans compared to those from the mainstream banks as well as the emerging online lenders who were giving credit at exorbitant costs.
Speaking when he visited Chepkorgor Sunrise Savings and Credit Cooperative society in Kipsonoi area, Sotik Sub County, the CAS said the cooperative movement was a blessing to less endowed persons who would otherwise be discouraged owing to the myriad of challenges faced in ventures such as agribusiness.
The Sacco has a merry-go-round involved in purchasing and distributing dairy heifers to its 185 members.
Eng. Mosonik further said cooperatives were not only meant for easy access of loans, but also came handy during marketing of the final product because persons in groups would have stronger negotiating power hence better price for their commodities.
He said cooperatives have a proven track record of reducing suffering in poverty stricken areas while at the same time providing a solution to joblessness among the youth.
The CAS asked the residents to form their own cooperatives saying he would personally help them register with social services department.
Eng. Mosonik also stated that the 47 county governments have a responsibility of managing and giving aid to cooperative societies under their areas of jurisdiction.
By Kipngeno Korir