Kenyans have been urged to join the Savings and Credit Cooperative Organisation (Sacco’s) for economic transformation since they offer the best business model in the entire country and world.
Imenti North Sub County Cooperative officer Alfred Murangiri said in Sacco’s, members are the owners, managers and customers of the cooperative movement where they independently take decisions without any influence from the outside.
Speaking in Meru town during a precooperative forum to educate the media on how to establish their own Sacco’s, Murangiri said the role prohibits cooperative movements to trade with non members.
f that operates on trichotomy where the members are owners, manage themselves and are the customers since the law prohibits them from trading with non members.
“Sacco are the best business model that operates on trichotomy where the members are owners, manage themselves and are the customers since the law prohibits them from trading with non members. They operate under a unique model which has not happened elsewhere in Kenya or world except in Sacco’s. This is because you only become a member after registration and paying the share capital. They operates on trichotomy where the members are owners, manage themselves and are the customers. The law prohibits them from trading with non members,” said Murangiri.
He said leadership, entrance fees, minimum share capital and the electoral areas are the only basic requirement needed before establishing a Sacco.
He said the entire Meru County has more than 491 registered cooperatives movements covering all sectors including macadamia, coffee, tea, dairy among others with majority of them being operational.
Murangiri said the Cooperative bank was started in Meru noting all Sacco’s are led by a management committee composed of between five and nine officials with the members delegating their role to the management committee leadership.
The newly formed Sacco will be governed in line with the Meru County Cooperative Movement Amended Act 2025/26 since it will be offering only Back Office Services (BOS).
He challenged members to be active by saving regularly in order to qualify for a loan and dividends.
“Economic appraisal of Sacco will be done to establish the total number of members recruited ,savings and expenses in order to make informed choice on whether it is viable or not. Sacco’s thrive on quality member numbers and not numbers alone. That is why I am challenging members to always be active by saving regularly in order to qualify for a loan and dividends,” said Murangiri.
During the forum, nine interim officials were elected to represent the nine electoral areas or constituencies in the entire Meru County.
The Meru Press Club Chairman David Muchui sailed through unopposed to represent North Imenti electoral area while Dorcas Ntoitha (Igembe North), Brenda Gakii Kubai (Igembe South), Nannies Mwendwa (Igembe South) and Visca Mwendwa also won unopposed.
Fammy Gakii, Moses Mungatia, Edna Kirumba and Sam Wanyoike were unanimously elected to represent Tigania East, Tigania West, Central Imenti and South Imenti constituencies respectively.
Ends.
