A Bungoma self-help group has been hailed for saving money through the National Social Security Fund to secure the future of its members.
Each member of Khalekhe Group is expected to contribute a minimum of Sh200 monthly towards the NSSF but some contribute more.
“This is the safest way to guarantee the future of individual members because their contribution can never get lost,” group chairperson Tecla Wanyama said.
She said the model allows even those out of employment to save.
“Most of our members are either retired and those who are younger are not employed. We thought of a way that members can save for the future and we discovered that this is the best.”
To boost their income, the group with a membership of 50, practices beekeeping and horticulture. The group saves at least 10 per cent of their total earnings with NSSF.
Group organising secretary John Fwamba said saving with fund as an individual is not easy but it becomes easier when it is done as a group.
“Though the saving are for individuals, you will realise that saving as an individual or depositing money isn't easy but because of the group team work and morale boosting it becomes easier,” he said.
He said the group started in 2014 and has membership from across the county.
Fwamba said they are optimistic that in coming years most members would be ready to withdraw their savings with interest.
“We are working hard to ensure that in the coming years we will have enough savings and when individual members withdraw their savings the money will change their lives,” he said.
He said their vision is to empower their members so that in the near future they will have the capacity to own property in big towns.
Bungoma county NSSF boss Damaris Gwaro praised the group, saying this is the best way small groups can save for the future.
“I hail the group for choosing the safest way to save for their future. One thing you are sure of is that members will never regret their investments in the future,” she said.
She said the money saved draws interest yearly and her organisation has been sensitising groups and individuals to ensure that they save for the future.
“When people hear of NSSF, they think that only those in formal employment can contribute and save which is not true,” Gwaro said.
She encouraged other small groups to emulate Khalekhe.
