Savings and Credit Co-operatives [SACCOs] have been challenged to come up with innovate stimulus packages to attract youth into the sector countrywide.
Commissioner for Co-operatives Geoffrey Njangombe argued that youths form a large part of the country’s population.
He said the society’s concept is unique and applicable to all sectors of the country’s economy that bring together different classes of people regardless of their economic status.
“Let me urge the sacco leadership to design new and exciting products and services that will not only attract youths but women also,” he pointed out.
Njangombe asked the society leadership to ensure they are not left behind in tapping the major benefits that accrue to Kenyans through the society.
He spoke during the launch of Mombasa Port Sacco society instant ATM Services at North Coast beach hotel in Kilifi County.
The Commissioner for Co-operatives reiterated there is need for the society to restructure their loans to cushion their members from the current economic hard times.
Njangombe called on the society stakeholders to continuously innovate, partner and look for ways to improve service provision for member satisfaction.
He assured the forum that the government will support their society endeavors through the provision of a conducive environment.
“Co-operative Cabinet Secretary Peter Munya has gazetted a task force to implement the national co-operative policy with a view to amending the society legislation to put the society in tandem with the constitution and society policy,” he pointed out
In his welcome remarks, Mombasa Port Sacco society chief executive officer [CEO] Dedan Ondieki said the launch of the facility is a game changer in the movement of the society in the country.
He added the time for issuance of the facility services has been reduced from two weeks to instant delivery.
“Funds transfer service is an instant sacco to banks transfer that is in real time,” he pointed out.
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