Akorino Sacco has received the biggest donation to a cooperative unit on record after a single contribution of Ksh10 million by President William Ruto.
On Sunday, President Ruto was in Nakuru for an Annual Prayer Conference 2024 at Nakuru Boys’ High School when he launched the new Sacco belonging to the Akurinu people of the Holy Ghost Church of Kenya.
“On the issue of Saccos, the Akorino Sacco, I told you to organise yourselves well, and I gave you experts in the field of cooperatives to teach you, and I am thankful. I see you have one specialist here who is not Akorino faithful. I have been told you are helping one another,” said President Ruto in an address.
“So what we will do, I will help you with ten million shillings for a start,” he added, after which a big round of applause from its members followed.
Saccos are Savings And Credit Cooperative Organisations, member-based financial service institutions offering a variety of banking products and services, including checking accounts, savings accounts, loans, and investment products.
Because they are owned and controlled by the people who are members, President Ruto told those of Akorino Sacco to use the money wisely with a promise to add an extra Ksh10 million if they do so.
“After one year, if you are good managers of this gift, come and take another ten million shillings. If you do very well, you can get more than that,” said Ruto.
It was some time late after quoting a Bible verse that says whoever is faithful in small matters will be faithful in large ones, in relation to the promised seven-figure sum, when he advised that they should commit to investing in local communities to generate more cash and grow the Sacco.
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