“The best vehicles to industrialization are cooperative societies,” he said/CFM BUSINESS
NAKURU, Kenya, Mar 10 – Farmers in Nakuru have alternative banking services after Ukulima Sacco opened a branch in the agriculturally rich county.
The Sacco opened its sixth branch in the country at the Kenya Farmers Association building of Friday during an occasion graced by the area Governor, Lee Kinyanjui.
“This area has a big catch for the Sacco because it has come at a time Nakuru is set to assume city status,” he said.
He noted that the future of the county was in local investors who would benefit from credit facilities by Saccos.
“The best vehicles to industrialization are cooperative societies,” he said.
Kinyanjui who was accompanied by CECs for Trade and Cooperatives, Peter Ketyenya and his Agriculture Counterpart, Immaculate Njuthe said Nakuru was agriculturally rich and had a huge potential for Ukulima.
He said the county had aligned itself to the Big Four Agenda Four and access to credit was a vital ingredient of achieving the goals.
He said Naivasha was set for the industrial park and most of the companies that will open shop there would be agri-based.
“Creation of jobs by the industrial parks and the dry port will cause an upsurge in demand for housing and hospitality industry,” he said.
His sentiments were echoed by CEC Njuthe who said Ukulima would tap thousands of farmers who did not have bank accounts.
Ketyenya said that the county government has established Cooperative Bill and Trade Bill, which will help to regulate the governance of Saccos for better finance management.
He said the Bill would also safe guide members’ welfare.
