Kenyans have been urged to join Savings and Credit Cooperatives Societies (SACCOS) so as to easily own and invest in property.
According to Engineer George Kiiru, the Chairman of Wanabarabara Housing Cooperative Society, buying property as a group is much easier and affordable as compared to buying it individually.
Addressing the press, in Kisaju Kajiado County, after handing over title deeds to members of the Wanabarabara Housing Cooperative Society, Eng. Kiiru reiterated the importance of joining housing cooperatives that enable one to own land and build houses.
The Chairman said that buying property in Kenya is very costly and it is cheaper to buy large parcels of land in a group as opposed to as an individual as you have the advantage of the economies of scale.
“SACCOS are the way to go. This initiative is aimed at helping our members to purchase land and construct houses in line with the government’s desire for every Kenyan to enjoy equal opportunities and access affordable housing,” he said.
He revealed that the Wanabarabara Housing Cooperative Society had bought 5 acres in Kisaju and sub-divided it to 33 plots for some of its members who intend on building housing units.
He added that the membership of the Sacco, which was formed in 2018 has grown from a membership of Kenya National Highways Authority (KeNHA) employees to including officials from government ministries.
Engineer Kiiru added that SACCOS also allow members to save money and apply for low-interest loans which they can use to develop their property.
Charles Ogal, the Secretary of the Housing Society said cooperative movement was very strong in Kenya and contributes up to 45 per cent of the Gross Domestic Product (GDP).
He added that joining cooperatives societies can help one grow faster as opposed to individually.
Edna Osore, one of the members who received her title deed for her parcel of land, expressed her joy at owning a piece of land adding that she was now free to build a house and secure her family’s future.
She challenged more women to join the cooperative movement so that they can save money and own property.
By Rop Janet
