Prime Cabinet Secretary Musalia Mudavadi has urged Kenyans to embrace the culture of saving through cooperatives to safe-guard their financial security and for the country to strive economically.
Mudavadi said the habit of income consumption rather than saving has retrogressive effects within the society and the country’s GDP.
He said cooperative societies hold big potential to enhance the livelihoods of people across various sectors, including agriculture, education, housing, the environment, and small and medium-sized enterprises, by effectively mobilizing resources.
“As we speak, the membership of cooperative societies in Kenya is over 15 million people. These numbers contribute to a mobilization of up to a tune of Ksh 1.2 trillion representing a significant percentage of the national savings,” said Mudavadi.
Mudavadi was speaking in Chiakariga, Tharaka Nithi County during the Boda Boda Members Economic Empowerment programme under the patronage of Tharaka Member of Parliament George Murugara.
He said the ongoing empowerment programmes across the country aim to empower Kenyans to be able to tap into emerging financial opportunities and grow their wealth.
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