Mechanics and other small traders from Othaya constituency in Nyeri county have joined hands to form a sacco. They were later advised that the group had grown and qualified to be a Sacco. Wanjohi said Nyeri South Traders Sacco now aims at pooling resources and give members loans to enable them expand their businesses. Loans grew from Sh2.7 million to Sh3 million, while the assets have increased from Sh3.5 million to Sh5 million. Members' loans are guaranteed by their shares and do not need collaterals, Wanjiru said, adding that they can now borrow three times their savings.
Source: The Star March 08, 2021 18:00 UTC