Port Victoria fish traders have been urged to form saccos to access development loans.
Saccos are the bridges to quick wealth, Budalang'i MP Raphael Wanjala said as he launched a 14-seater van bought by Maningo Sacco members recently.
Wanjala commended the sacco for "positively changing members' lives since its inception two years ago"
“I want call upon other traders doing fish business along the shores of Lake Victoria to emulate Maningo Sacco and form one of their own for them to be able to save and borrow cash to invest in other income generating activities,” Wanjala said.
The chairman of the sacco, Samson Nyadimo, said the organisation provides loans to members, most of whom fishermen, who have bought motorboat and outboard engines.
Nyandimo said the 68 members intend to build a multi-purpose social hall, equipped with chairs and tents for hire and generate extra cash for the sacco.
One of their challenges is lack of access to bank loans, he said.
“Accessing loans from banks in Busia has been an uphill task, so we are appealing to [Busia Governor Sospeter (Ojaamong) and [Budalang'i MP (Wanjala) to support us through the county’s cooperative department to get loans to empower our members to be self-reliant,” he said.
Edited by Rosemary Wangui
