Members of a WhatsApp group in Busia County have made history after successfully turning the group into a Sacco to empower themselves economically.
The group known as Matayos Reality WhatsApp Group was officially converted into Matayos Reality Sacco last week after 30 members paid their subscription fee and a monthly contribution of Ksh 200 and Ksh 500 respectively.
According to the Sacco chairman Duncan Kubasu, the group members sought to deviate from the culture of politicking every now and then that has engulfed the social media platforms across the country.
“We want to have shares in the Sacco which can change our lives since we can earn dividends and access loans that can enable us venture into businesses.
“I am appealing to more members to be part of history and join the Sacco in order to deviate from the culture of looking for white collar jobs with the County or National Governments,” he said noting that under the Sacco members are set to benefit from loans at
reasonable and concessional interest rates in comparison to those in the mainstream banks.
Kubasu said members will also benefit from dividends depending on the profits made and respective members savings.
All-round approach will prevent tax offences and financial crimes
Kenya has become increasingly exposed to illicit products and counterfeit goods, hence the need to take an all-round approach towards...
Kenya’s GDP to hit 5.7% despite debt burden
Despite a debt increase, Kenya’s GDP is expected to reach 5.7% up from 4.9% last year, according to ICAEW’s (the...
DPP seeks to withdraw forgery case in Sh500m Karen land suit
The Director of Public Prosecutions (DPP) has requested for withdrawal of the case against Guy Spencer Elms, the lawyer accused...
Chebukati ‘out to fix Chiloba’
When Judge Stephen Radido delivered his ruling on Thursday setting aside IEBC chairman Wafula Chebukati’s decision to send the CEO,...
Pharmaceutical firm backs social investments in healthcare
Boehringer Ingelheim, one of the world’s leading pharmaceutical companies, and Ashoka, the world’s largest network of social entrepreneurs, have held...
MKU ranked among 10 best universities in Kenya
Four local private universities in top 10 ranking of universities in the country.
4 MultiChoice traders win trip to watch World Cup in Russia
They will have an experience of a lifetime touring Petersburg, the Vodka Museum and enjoy a private boat tour along...
Inside the boda boda millionaire industry
In small doses of Sh50 and Sh100, Kenyans spend Ksh600 million daily on motorcycle services
Daystar University sacks vice-chancellor
Striking students had decried mismanagement of funds and quality of education
Battle for Machakos governor heads to the Supreme Court
The court faulted the IEBC returning officer for using an excel spreadsheet to record results instead of Form 37A