Cooperative Movement Key Driver Of Socio-economic Transformation
The Mt Kenya Times 
Mary Karau Ngethe
Empowering women for social and economic development
By: Mary Karau Ngethe
Worth Noting:
- There are many other grassroots groups that have formed successful SACCOs like boda boda operators, matatus owners, mama mboga women, among others where informal businesses get financial services and investments.
- Using the SACCO platforms the national and county governments are able to influence the members through imparting skills on saving and investments, management of SACCOs and the risks of poor management, and opportunities available from the various members. SACCOs are therefore a good platform for government to develop the population socially and economically.
- Women in particular, who rarely have opportunities to deal with money matters, and especially accessing credit since they rarely have collateral to guarantee loans from mainstream banks.
One of the most effective ways of curbing Gender Based Violence (GBV) is women socio-economic empowerment through some financial institutions like SACCOs.
There are about 23,000 cooperatives in Kenya, employing over 500,000 people directly, and offering uncountable indirect jobs in the interlinked sectors like agriculture.
Addressing socio-economic factors is predicted to reduce GBV especially among adolescent girls and young women (AGYM) reliance on transactional sex and strengthen their self-efficacy and decision-making powers in relationships.
The links between economic insecurity and GBV are complex and operate at an individual, interpersonal and societal level.
The senior women, adolescent Girls and young women who live in chronic poverty may find themselves more likely to experience acute stress and resort to risky strategies like early marriages and staying in abusive marriages increasing their risk of violence at the exchange of resources for basic needs.
SACCOS: Economic Strengthening In Action, Case of Muranga County Women SACCO
Women in Muranga County formed a SACCO where membership registration is Sh100 and is open to all women from the 8 Sub Counties.
Leadership involves representation from all the 35 wards. Savings are minimum Sh10 per day or Sh300 per month. Some women have saved as much as Sh150,000 in less than 5 years yet they are just ordinary grassroots women.
The SACCO was given land near Muranga University where they build a storied hostel with capacity to accommodate 400 students.
With good SACCO management the members will soon start getting monthly benefits and credit facilities.
There are many other grassroots groups that have formed successful SACCOs like boda boda operators, matatus owners, mama mboga women, among others where informal businesses get financial services and investments.
Using the SACCO platforms the national and county governments are able to influence the members through imparting skills on saving and investments, management of SACCOs and the risks of poor management, and opportunities available from the various members. SACCOs are therefore a good platform for government to develop the population socially and economically.
Women in particular, who rarely have opportunities to deal with money matters, and especially accessing credit since they rarely have collateral to guarantee loans from mainstream banks.
SACCOs allow women to take soft loans from as little as Sh5000 which keeps increasing with every subsequent application. Some women are now able to access as much as Sh5,000,000 and above. Management of SACCOs therefore need to be very well structured under the oversight of GoK.
This is because the mass of our population relies on SACCOs to development themselves especially in agriculture and trade.
To show how strong SACCO matters are to governments both national and counties, on 2nd July in Meru, the Deputy President, Rigathi Gachagua gave a strong testimony on how SACCOs have given him good financial foundation through the Harambee SACCO, and he urged Kenyans to be members of SACCOs.
We also urge the national and county governments to strengthen the SACCO management to ensure citizens get good benefits from their savings and investments, and especially women members.
Mary Karau Ngethe is the Founder and CEO of A Life Coaching firm known as Impact Results Africa. She is a Global Leadership Catalyst, Transformative and family Certified Life Coach and a Celebrated Motivational Speaker who passionately advocates for “Peace in Our Hearts & in Our Families”
Contacts 0722652111. Email marykaraungethe@gmail.com
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