Bungoma SACCOS have been urged to fast track implementation and usage of digital infrastructure to provide effective services to members.
Addressing officials and members drawn from various Saccos at Posta grounds during the international Cooperatives day celebrations, Mr. Amos Nyongesa from the Kibabii University Cooperative Society said that migration to the digital platforms will aid in recruitment, monitoring of members’ savings and ease access to various loans.
“Our Sacco is digital hence paperless after acquisition of an international data server from Germany, thus we can partner with other Saccos by hosting them at a very affordable fee and in the long run promote the growth of a more vibrant cooperative movement in Bungoma County and the entire Western region,” said Nyongesa.
Kenya Union of Saccos and Cooperatives KUSCO representative, Mr. Alex Khaemba noted that the national government was keen in ensuring smooth flow of the institutions through more trainings, mentorship and even financial assistance to the Saccos in order for them to enjoy stable operations through giving their members credit at low interest rates.
Khaemba asked all Saccos to register with KUSCO to secure members’ savings.
Bungoma Cooperative Bank Relationship officer Mr. Peter Songok on his part noted that since Cooperatives finances are under the custody of the bank, they will continue giving them all the needed financial support to stay afloat in the market.
According to Mr. Songok, Cooperative bank started like a Sacco before making growth, hence the need for more investments in the sector to uplift the living and economic standards of Kenyans through acquisition of more low interest loan products with long term repayment plans.
During the celebrations Ng’arisha Sacco was awarded as the best overall performing Sacco while Musikoma Rural Sacco was feted as the best in the Public Award Category.
Other Saccos which received recognition include Magharibi farmers, Bungoma Matatu employees, Macco , Kibabii University and Women of Vela Saccos.
Bungoma Cooperative Development officer, Mr. Lazarus Busuru, noted that Covid 19 pandemic adversely affected the operations of Saccos due to delay in loan repayments from members expressed hope of a bright future as the economy was slowly regaining stability.
This year’s theme is ‘Cooperatives Build a Better World.” Ushirika day was first celebrated in 1923.