Tower SACCO has partnered with Women Enterprise Fund in a move aimed at uplifting the economic status of women through access to loans.
Speaking during their 47th Annual General Meeting in Ol Kalou town in the weekend, Sacco chairman John Gitundu said the move will see women in the Micro and Small Enterprise, social and economic status achieve financial sustainability.
“Our SACCO has a product called Boresha mama which will really help our women to save and borrow loans at low-interest rates giving them a better platform to grow their enterprises,” Gitundu said.
Gitundu added that the Sacco that has now increased its membership by 17, 526 in 2022 hitting a total of 186,065 members has at the same time sponsored more than 20 bright but needy pupils.
“In furtherance to our corporate social responsibility of improving learning opportunities to the underprivileged pupils in our counties, the Sacco has this year offered learning opportunities to more than 20 bright but needy students,” said Gitundu.
The chair noted they are in process of registering a Sacco foundation which will mostly concentrate on improving education, poverty eradication, food security, and healthy wellness to benefit the community.
On her part, County Executive Committee Member for Tourism, trade, Cooperative Development, and Industrialization Agnes Njunji called on financial institutions in Nyandarua, especially co-operative societies to must protect members’ interests by observing the highest standards of integrity in corporate governance.
She noted that outright theft and mismanagement have crippled sections of Nyandarua’s vibrant cooperative movement, leaving thousands of families in deep misery.
“I am commending Tower Sacco for an increase in share capital, deposits, and membership for the year ended 2022. Am challenging members and related financial institutions to explore venture funding towards cottage industries, value addition, and agri-business to help increase members’ daily revenue,” she added.
By Waithera Mumbi
