Savings and Credit Cooperatives Organizations (SACCOs) leaders have urged Generation Z to join cooperative societies to build financial independence and free themselves from the debt web under unscrupulous financial institutions.
Speaking during a Harambee SACCO member's event in Mombasa the Chief Operation Officer Renson Mwandoe said that young people are not very interested in joining SACCOs not knowing that they offered a pathway to financial breakthroughs, including access to loans with low interest rates for starting Small and Medium Enterprises (SMEs).
Mwandoe said SACCOs offered an important pathway to financial independence and a chance to venture into entrepreneurship as young people embraced the culture of saving and group investment.
He noted that there was a need for Kenyans to embrace saving culture for long-term economic empowerment saying aging was a very gradual process with the future being uncertain. "SACCOs have come in to offer financial services and support for youth and the general public's development.
