Westlands youth and women were all in joy and jubilation when the area MP Tim Wanyonyi oversaw the launch of their own sacco that will offer them cheap loans.
“Let us start small and grow. I will save together with you in this SACCO.Save any extra cash you have. I want it to grow even into a bank in the next ten years or so,” Wanyonyi said.
Biashara Ya Westlands (BIYAWE) sacco will allow the youth and women to access credit without collateral, jobs or even bank accounts.
New members were registered at KES 500 and will be expected to save KES 1,000 monthly in order to accumulate shares with fellow members acting as collateral.
The Sacco launch was carried out in the presence of Mr Peter Njoroge founder of Lopha Sacco as well as Mrs Werunga, a field officer at the Kenya Union of Savings $ Credit Cooperatives (KUSCCO).