Tea and dairy farmers in parts of Murang’a are set to benefit from training on how to prudently manage and utilise earnings they accrue from their produce.
The management of Amica Sacco has promised to engage farmers in various education forums where they will be enlightened on best ways of investing and diversifying their economic activities.
On Monday during opening on a new branch at Gatura shopping centre in Gatanga Sub County, Amica CEO James Mbui observed intensive and thorough training will help farmers especially those who have ventured in tea and dairy farming to efficiently invest their income and better their lives.
“During payments of tea bonus, some farmers end up misusing their monies but with training on financial management, the farmers can prudently use the cash, invest and improve their living standards,” noted Mbui.
Gatanga Sub County is dominated by tea and dairy farmers, with a sizable number venturing in coffee and horticulture.
The new branch, Mbui underscored, will provide financial services to local farmers who initially used to travel to branches located in Thika and Murang’a town.
“The purpose of a Sacco is to help members save and access cheap credit facilities and with a new branch in Gatura we hope to boost the saving culture of our farmers in this part of the county,” he added.
The CEO asked locals not only farmers but also those employed and those venturing in other businesses to take advantage of the Sacco services to grow their economic status and improve their livelihoods.
Recent reduction of lending base by the government, he stated is a positive move to residents since it can enable them access cheap credit services.
Meanwhile, Mbui called on the government to come up with strict regulations that will control and monitor operations of Sacco unions.
This comes after an audit report on the Kenya Union of Savings and Credit Co-operative ltd (KUSCCO) impropriety and losses exceeding Sh12 billion.
Mbui said KUSCCO and other bodies that bank with Saccos need to be regulated so as to protect members’ money.
“Deposit and non-deposit taking Saccos are regulated by Sacco Societies Regulatory Authority and since the establishment of the authority, Saccos have been performing well so also call for regulations on unions which deal with Saccos,” he added.
Mbui expressed optimism that the issues affecting KUSCCO will be solved and deposits of members of Saccos be protected.
By Bernard Munyao