Kiambu county's largest savings and cooperative society has launched a Metro Boresha Biashara Scheme for low income earners to save and get loans.
The loans will be repaid using the check-off system from their income.
Metropolitan National Sacco CEO
Francis Ng'ang'a said yesterday the scheme is designed for individual traders who require financing to run their business on a daily basis.
"We are targeting boda boda operators, barbers, market traders and any individuals who require financing to run business," he said.
Ng'ang'a said the scheme is open to everybody who joins and interested members of community can join under a class B membership.
He spoke at the Sacco headquaters in Kiambu town yesterday.
Ng'ang'a said that said that the sacco is unveiling products that will help its members to access more loans.
"The sacco was only for teachers and had a membership of more than 5,000 members in 2009 and now it has a membership of more than 60,000 because we opened doors to the rest of the community," he said.
"We realised the sacco can help its members through loans where a member can accumulate shares through money from personal businesses."
The Kenya Union of Savings and Credit Cooperatives chairman George Magutu recently urged saccos to take advantage of the East Africa Community Act and expand their businesses in the EAC.
He urged saccos to seek partnerships that will enhance growth.
