Savings.
Maendeleo ya Wanawake Organisation Chairperson Rahab Muiu has urged women in Nyanza region to join savings and credit co-operative societies (Saccos) to enable them to access funds for economic empowerment.
Muiu said Saccos provide opportunity for savings, loans and dividends to their members making them drivers of development.Muiu who was accompanied by Kabondo Kasipul Member of Parliament Eve Obara said Saccos can transform livelihoods of women.
Speaking Friday during an Annual General Meeting of Rachuonyo East Entrepreneurs Sacco in Kabondo Kasipul Constituency, the two leaders said Saccos were instrumental in poverty eradication.
Muiu said there are many women who have business ideas, but their main challenge was access to capital. But she pointed out that the Saccos can solve the problem as they provide their members with loans and dividends to enable them to start business ventures.
“Saccos have improved lives of many people in this country through the financial services they offer. I urge women of Nyanza region to join Saccos,” Muiu said. Dr Obara noted that the main obstacles in the fight against poverty in the society was lack of a savings culture and encouraged women in the area to save part of their incomes.
“I am encouraging our people to save part of any income they get. The savings will help whenever an emergency arises,” Dr Obara said, advising that said the best way of saving is to join Saccos.
The MP commended the Rachuonyo East Entrepreneur Sacco for sound management noting that the organisation also provides health insurance for its members. She added that Saccos were excellent opportunities for wealth creation through provision of seed capital for businesses, noting that Saccos also enhance dignity for people when they want to borrow money.
“A Sacco enables one to borrow funds with dignity as opposed to shylocks which subject borrowers to untold suffering with astronomical interest rates,” Obara said.
Obara and Muiu also encouraged women to embrace the use of an inovation called Sawa Water Can for purifying water. The use of the Sawa Water Can involves use of solar heat to boil water providing safe drinking water.
“The use of Sawa Water Can is approved by the World Health Organisation and the Kenya bureau of standards. We encourage everyone to embrace it because it purifies water in a cost-effective manner and it prevents emission of greenhouse gases into the atmosphere,” Muiu said.