SACCOs (Savings and Credit Cooperative Organizations) provide our businesspeople with essential avenues for financial inclusion, access to affordable credit, and enhanced collective bargaining power. Recognizing these critical benefits, the County Department of Agriculture, Livestock, Veterinary, and Cooperatives yesterday organized a comprehensive sensitization and capacity-building forum for leaders from 115 Boda Boda operator groups under the Tharaka Muungano Community Based Organization.
The forum, held at Tharaka Central Assistant County Commissioner’s office grounds in Marimanti, brought together Boda Boda team leaders to discuss and understand the advantages of forming and joining SACCOs. The primary focus was to educate these leaders on the financial benefits of SACCOs, such as providing a structured system for savings, offering affordable loans, and strengthening their collective bargaining power.
Chief Officer Kimathi Njeru, addressing the participants, highlighted the transformative potential of SACCOs. “By forming SACCOs, Boda Boda operators can significantly improve their financial stability and growth prospects. This initiative is not just about financial inclusion; it is about empowering our community to achieve better livelihoods through collective effort and disciplined financial practices,” he said.
The forum covered various aspects of SACCO operations, including the legal and administrative requirements for setting up a SACCO, the process of transitioning from informal groups to a formally registered SACCO, and the long-term benefits of such a transition.
Facilitators at the session gave emphasis on financial discipline and the importance of regular savings. As they pool their resources together, members can create a substantial financial base that can be used for personal and business investments, ultimately leading to improved earnings and economic resilience.
Additionally, the forum stressed the importance of community support and solidarity. As part of a SACCO, Boda Boda operators can benefit from shared knowledge and resources, creating a network of support that extends beyond financial transactions. This sense of community is vital for the sustainable growth and development of all members, and aligns with the broader County strategy of enhancing economic opportunities and improving the quality of life for all residents.
This initiative is a step forward in the County’s ongoing efforts to support local businesses and communities. The Department of Agriculture, Livestock, Veterinary, and Cooperatives remains committed to providing continuous support and resources to ensure the successful implementation of SACCOs across the County.
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