The Murang’a county government intends to establish a Sacco to enhance economic activities of hawkers and small-scale traders.
The Sacco dubbed Wachuuzi Cooperative Society, is earmarked to bring together hawkers among other small-scale traders and give them a platform to save and access credit services to support their businesses.
Murang’a Governor Mwangi wa Iria has said the county government has come up with a law which will help establish the new Sacco early this year.
Speaking at the county offices on Thursday, Wa Iria said already recruitment of members has started and so far, 30, 000 hawkers and small-scale traders have registered.
“The Sacco targets to get more than 100, 000 members and this will enable them to mobilize resources and start giving loans among other credit services to members so as to boost their economic activities,” added Wa Iria.
He said the Sacco will have a county umbrella body which will coordinate other branches that will be established in each of the eight sub counties.
Wa Iria observed that due to the nature of their business activities, hawkers are oftentimes ignored by major financial institutions in terms of accessing loans.
“The Sacco will be important to the traders as they will be able to save and access loans,” he added.
The hawkers Sacco will be among other several cooperative societies the county government has helped to establish. Some of the other Saccos include Murang’a county women, Avocado farmers and boda boda cooperative societies among others.
“Saccos play a major role in driving the economy and here in Murang’a we have invested a lot in Saccos as they help to improve social economic welfare of our people,” said Wa Iria.
From January, the governor said cooperative officers will embark in educating the hawkers about the importance of Sacco and champion recruitment of members.
“Sacco can help bridge the gap between the rich and the poor as small-scale traders can access financial support to grow their businesses to higher levels,” he further noted.
By Bernard Munyao