Kwale County residents have been urged to embrace a saving culture through savings and credit cooperatives to improve lives and fight poverty.
Speaking while celebrating the 101 International Cooperative Day in Matuga, Governor Fatuma Achani said many people are unable to progress because of unnecessary spending caused by poor saving mechanisms.
Achani said forming and joining Saccos will promote shared growth and prosperity and a better economy.
“Embrace cooperative societies in a bid to improve socio-economically and living standards,” she said.
The governor said cooperatives play a crucial role in fostering national unity besides their invaluable contribution to supporting people’s growth and the country’s economic stability.
Achani said the residents are in a better position to save their money with financial institutions where they can access all kinds of loans and support to make their lives great.
She said cooperatives are more reliable than keeping money in houses where it can easily be stolen or destroyed in case of any hazards.
The second Kwale governor noted that a huge percentage of financially stable people is through saving and buying shares in financial institutions.
She said cooperative societies are a good foundation for development as they help build one’s financial stability.
Achani advised small and medium business enterprises and women groups to take advantage of the cooperatives to grow.
She said her administration is committed to supporting Saccos and creating a conducive environment for them to operate smoothly to continue uplifting the lives of the locals.
Achani said the county aims at creating a financially inclusive society where residents can access easy business and personal loans at low-interest rates for development.
“Kwale government together with other stakeholders will ensure all saccos are supported and strengthened to achieve the main objective of economic empowerment,” she said.
Achani said the saccos will enable members to easily register companies and bid on county tenders.
She said the initiative will spearhead equal and fair growth in both urban and rural areas.
The county boss warned residents against poor spending and urged them to engage in various investments for development.
“Shun the habit of recklessly spending and channel that money to income-generating activities,” she said.
She said residents should always try to save the little they have for the future.
Achani said people should have life goals as they work hard to improve income and living standards.
The governor called upon various Saccos to support her leadership and work together.
She said that her administration is determined to push for good policies to streamline the sector.