The Kisumu County Government has called upon the youth who are in business to register Savings and Credit Cooperative Societies (SACCOs) in order to grow their ventures.
In a story published in the SACCO Review, the County’s’ Director of Cooperatives, Trade and Enterprise Susan Kanga said that SACCOs will help to ensure the youth have a source of financing for their businesses.
It is indeed good to belong to a SACCO. SACCOs offer affordable loans that will help the youth to borrow and inject the financing into growing their businesses. Furthermore, SACCOs will help to inculcate a savings culture amongst the youth as you can only borrow against your savings in a SACCO.
Ms. Kanga also added that the Kisumu County Government has further set aside Sh100 million for enterprise development and urged youths to apply for the funds.