A Busia sacco is targetting the County Enterprise Development Fund and Co-op Bank loans to invest in real estate.
Matayos Reality Savings and Credit Cooperative Society on Friday said its short-term plan is to build houses and sell them to members. Organising secretary Duncan Kubasu said their long-term plan is to venture into the transport sector.
“Our focus now is to look into the welfare of members, by building affordable houses for them,” he said.
The sacco has 100 members, who have Sh400,000 shares each. Kubasu urged residents to join the sacco to improve their welfare.
“We formed the sacco because the majority of the youth and salaried employees were unable to access loans from commercial banks due to high interest rates and unbearable collateral security,” he said.
Kubasu said they will start giving loans to members in December. He told residents to use their WhatsApp groups to promote their wellbeing, instead of “politicking all the time”.
Kubasu said only objective criticism of the county administration would support economic development for the common good. Unnecessary criticism turn people into a laughing stock and deny them the opportunity to focus on economic activities that would turn their lives around, he said.