Saccos’ digital drive a call to youth to invest
The cooperative movement, mainly saccos, has been the backbone of Kenya’s economy, contributing more than 40 per cent to the gross domestic product (GDP) and expected to grow in the coming years.
This tremendous expansion has been made possible by the ever-ballooning deposit- and non-deposit-taking saccos.
Their members have pooled resources to access savings and credit facilities and also invest their income to earn interest and dividends.
The ever-changing market trends have forced the saccos to change their modus operandi to tap and retain the dynamic customers by digitising their operations so as to enable them to get services conveniently.
Ingenious strategies rolled out by the saccos have targeted youth to woo them to join the life-changing movement in a bid to enable them to grow their financial muscle through the available products.
With services such as account opening, transacting and loan applications made easier by digitisation, the young generation should move with speed and take advantage of these opportunities.
Provided an avenue
Despite the risks posed to this positive transformation, it has provided an avenue for sacco members to transact and get services instantly, at the touch of a button.
This revolution has seen a customer in remote village and small rural townships access credit and savings facilities without making a visit to a physical office.
The youth must take advantages of the Digital Age to earn, save and contribute more to the economy by taking up the various programmes rolled out by the cooperatives.
And as the government seeks to cushion saccos from cybercrime, the organisations must bolster their activities by securing their systems to avoid losing money through online fraud. BY DAILY NATION
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