The Ministry of Cooperatives and SMEs Development, in partnership with the Eliud Owalo Foundation, has trained women’s groups in Migori on financial literacy and accountability, meant to broaden their understanding of financial management.
The training, which brought together at least 400 women groups from 12 sub-counties, also sought to strengthen their structures and facilitate the registration process of groups into SACCOs, ahead of anticipated empowerment funds from the Eliud Owalo Foundation.
Speaking during the event, Peter Okul, an Assistant Commissioner for Cooperative Development, said the programme will ensure that registered groups access funding such as loans at affordable interest rates.
The women’s groups were trained on issues that included governance, fundraising, book keeping and the three basic avenues of funding in Cooperatives such as entrance fees, buying shares, saving their own money and finally lending to themselves.
He added that the partnership is designed to help groups expand, create employment opportunities and empower communities.
The Assistant Commissioner of Cooperatives also explained that the funds gained from the Foundation will be used to improve the economic activities of women in the county including fishing activities and rice farming in Nyatike, sweet potato and coffee growing in Kuria and dairy farming.
Bevin Bhoke, who coordinates SACCOs in Migori, noted that the initiative will not only build financial literacy among women, but also motivate them to become financially self-reliant.
Welcoming the initiative, Betty Oranga, a representative of a women’s group from Suna East Sub-County, urged the would-be beneficiaries to apply the financial management skills in their businesses, as they await the disbursement of funds from the foundation.
In the last two years, Eliud Owalo Foundation has been supporting women businesses in Saccos across the country, in partnership with the State Department for Cooperatives to empower them economically.
By Adika Jedidah and Makokha Khaoya
