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Kiambu County Women Sacco Relaunched

Kiambu County Women Sacco (KCWS) has officially been relaunched as part of its strategic growth plan to empower its members.

Founded in 2014, the Sacco whose headquarters are in Thika Town, seeks to empower members by offering financial solutions and encouraging members to save.

While speaking during the re-launch, founder Annah Nyokabi Gathecha said that the Sacco was initially started for women but has now opened doors for men even though men are not allowed to exceed 70% of its membership.

“The minimum share capital for a member to join is KES. 5,000 (five thousand). There is a registration fee of a thousand shillings (KES. 1,000) and a minimum savings of the same amount,” explained Ms. Gathecha.

She added that for one to qualify for a loan, one had to make monthly savings for at least six consecutive months.

“You need to save at least KES. 1,000 every month for 6 months to qualify for a loan. We are currently loaning at twice one’s savings. No security is required since members guarantee each other,” she explained.

KCWS has over 4,000 members spread across the vast Kiambu County with membership consisting of a minimum of 10 to 15 members per cluster.

The Sacco’s offices are located at Aboo’s Plaza opposite Shuhan Hotel Thika, along Birmingham Street.

According to the latest data, Kenya is ranked seventh worldwide and the best in Africa regarding Sacco development. The cooperative sub-sector in Kenya controls over KES. 1.5 trillion in assets and KES. 1 trillion in deposits, with a loan book of KES. 980 million. Furthermore, thirty percent (30%) of the national savings in Kenya come from Saccos.

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