without discipline in lending and repayment of loans, Saccos don’t meet their objectives-Governor

Malaba Border Riders Sacco

By Malachi Motano

The government of Busia County acknowledges that timely repayment of loans boosts the institution’s financial base.

Speaking to members of Malaba Border Riders Sacco recently during a funds drive to support purchase of a mini-bus, Governor Sopeter Ojaamong noted that without discipline in lending and repayment of loans most Saccos do not meet their objectives.

He was accompanied by Nyakach Member of Parliament, Aduma Owuor and his Teso North counterpart, Oku Kaunya who said,  the County will establish two Bodaboda Saccos in each ward.

According to the member of Parliament,  most Bodaboda groups are being transformed into Saccos, where most of the members have benefited from the County funding, citing Samia and Bunyala Saccos, which received Sh1.5 million each.

He says well managed Saccos can reap big from own estates, buses among other investment opportunities.

Kaunya added that the bus will empower the Bodaboda riders and urged leaders and county residents to support them.

Related posts