Ministry targets Kenyans abroad in saccos growth bid

The government plans to register more co-operative societies in foreign countries with a large number of Kenyans.

Industrialisation and Enterprise Development secretary Adan Mohamed said the ministry plans to register saccos abroad to help Kenyans in the diaspora invest.

“This initiative will assist Kenyans in foreign countries to make structured remittances and facilitate investment at home,” he said in a speech read on his behalf by assistant county commissioner Jonathan Enkai during International Co-operative Day (Ushirika Day) celebrations in Isinya town recently.

Last year, the ministry registered two such saccos in the United States and the United Kingdom.

Kenya USA Diaspora Sacco chairman Frank Kioko while launching the society last year said: “The registration of this sacco is a huge investment opportunity for us here in diaspora and big economic boost in our country.”

Saccos play a key role in economic growth through the provision of loans to many unbanked Kenyans.

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