By BAYA SAMUELMore by this AuthorSavings and credit co-operatives (saccos) have cited high interests rates, hidden charges in mortgage schemes and inadequate funding as stumbling blocks in the realisation of the affordable housing dream. Kenya Union of Savings and Credit Co-operatives Ltd (Kuscco) national chairman George Magutu said although the saccos have the potential to contribute in the realisation of the low housing agenda, there are several bottlenecks. “This is an indication of the key role that saccos have over the years played in the provision of housing to their members. With a membership of about 14 million people, the co-operative societies have great potential to bridge the existing housing gap,” he added. “We therefore call upon the government to fast-track investments through facilitative tax regimes and build capacity in co-operatives.

Source: Daily Nation February 21, 2019 22:52 UTC