YOUNG KENYANS LAUNCH SAVINGS AND CREDIT COOPERATIVES

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USAID AND MINISTRY OF COOPERATIVE DEVELOPMENT SUPPORT THE EFFORT
Date Published: 
November 3, 2012
The Hon. Joseph W.N. Nyagah, Minister for Cooperative Development and Market
“Finally our wholly owned and managed SACCO is here.”
Beth Wanjiku Chege, Kiambu County Youth Bunge Forum President

Two visitors came to Thika on October 26th.One was the Honorable Joseph W. N. Nyagah. He is the Minister for Cooperative Development and Marketing. The other was Dr. Roger Steinkamp. He is from the U.S. Agency for International Development (USAID). They came to launch two new Savings and Credit Cooperatives (SACCOs). The SACCOs are the achievement of the Kiambu and Muranga Youth County Bunge Forums.

The SACCOs provide a safe place for youth bunge members to save their money and get loans.  “Finally our wholly owned and managed SACCO is here,” Kiambu County Youth Bunge president, Beth Wanjiku Chege said.  Ms. Beth urged the youth to focus all their energy in making their country productive through this great resource. She said that Central Province is the place where business flows in the blood.  The chance for youth to explore commerce has come.

The Thika West District Youth Officer said the days are gone when people thought the youth had no money. SACCOs give young people a great chance to invest in their future.One SACCO will serve youth bunge members in Muranga County and the other SACCO will serve bunge members in Kiambu County. Bunge members will be able to save their money and borrow money to start new businesses. “The SACCO is the way to move from where we are to a better future,” said Mary Mungai. She is the Deputy Commissioner of Ventures, Youth development project.

The Muranga and Kiambu County Bunge presidents are elected democratically by their fellow youth. Both were present for the launch. They told their fellow Bunge members that they would work tirelessly to ensure the SACCOs run smoothly and benefit all members.

The National Youth Bunge Association (NYBA) represents young people at the national level. USAID supported the NYBA to create SACCOS to help the youth open businesses. This will contribute to the country’s envisioned economic growth.

 

                                                                                                                                                                                               Story by Rose Mwelu