Kenya Kwanza government has been asked to channel funds it promised to boost Small and Medium Enterprises (SMEs) through well-structured Sacco’s.
Amica Sacco Chief Executive Officer (CEO) Mr. James Mbui Thursday observed that Sacco’s are mostly composed of membership of low income earners and especially from grassroots and thus are well suited to ensure the funds are easily accessed by the ordinary mwananchi.
Some of the Sacco’s, he added are made up of farmers and traders who can get subsidies through the societies without much challenges.
Mbui spoke during his Sacco’s special annual meeting which was held in a Murang’a hotel where the delegates also approved next year’s budget.
He further lauded the new regime for bringing back the ministry of cooperative which was combined with SMEs saying the hustler fund is most likely to come through cooperatives.
The CEO further said they are in talks with various county government to assist farmers get subsidies on farm input through cooperatives.
Meanwhile Mbui projected that 2023 will be a better year observing that since last year, cooperative societies have been financially affected by hard economic times.
Drought, high fuel prices, the CEO cited as some of challenges which contributed to bad debts