The Laikipia County Government has disbursed more than KSh100 million to cooperative societies under its Cooperative Revolving Fund to support value addition, enhance local production and increase earnings for members.
The fund is helping cooperatives invest in processing locally produced goods, creating wealth and generating employment opportunities, particularly for young people across the county.
Speaking during the 104th Ushirika Day celebrations at Matanya Grounds in Laikipia Central, Governor Joshua Irungu said the revolving fund has grown significantly from KSh20 million to more than KSh100 million, attributing the expansion to prudent management and the commitment of beneficiaries to repay their loans.
“The growth of the fund demonstrates that when resources are managed well and beneficiaries honour their repayment obligations, more people can benefit,” said Irungu.
The governor also acknowledged that some development projects initiated during his first term are yet to be completed but assured residents that his administration is committed to delivering them before the end of his second term in office.
Meanwhile, several Savings and Credit Cooperative Societies (SACCOs), particularly those in the transport sector, appealed to the county government to increase the maximum loan amount from the current KSh3 million to KSh6 million.
The SACCOs argued that the higher limit would enable them to cope with the rising cost of purchasing Public Service Vehicles (PSVs) and expand their operations.
County officials, however, urged cooperatives to comply with regulations set by the Sacco Societies Regulatory Authority (SASRA), warning that failure to adhere to the law could result in deregistration.
The county government says strengthening cooperatives remains a key strategy for promoting value addition, improving household incomes and stimulating economic growth across Laikipia
