Sh314 million is set aside for sacco loans

The Uasin Gishu county government has set aside Sh314 million to be advanced as loans to cooperative societies.

Governor Jackson Mandago announced this at Chepkanga when he presided over the issuing of title deeds to 74 teachers who are members of Mwalimu Sacco.

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The county boss said the loans would help alleviate poverty among members of cooperative societies and improve their livelihoods.

“I am a member of Mwalimu Sacco and a good loan payer. Being a member of a sacco will enable a person to access loans at lower rates,” said Mandago.

The Mwalimu Sacco national chairperson, Teresa Mutegi, said a Sh300 million revolving fund was initiated two years ago to buy land for the 74 teachers.

“We wanted to empower our members to own houses. We bought 20.5 acres of land and gave them a period to pay for the land. We are introducing them to cheap home building technology,” she said.

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