Jua Kali sector in Kisumu eyes financial empowerment through new Sacco

Kisumu National Federation of Jua Kali Association members after a round table in Kisumu.[Washington Onyango,Standard] The Kisumu National Federation of Jua Kali Association has unveiled plans to establish a Savings and Credit Cooperative (Sacco) aimed at improving access to finances for local artisans and expanding their businesses. The initiative, which has been long anticipated, is expected to empower the artisans by providing them with the financial muscle to compete for government tenders and grow their ventures. Speaking during a meeting held in Kisumu on Saturday, Association chairperson Rose Onditi emphasized the importance of the Sacco in addressing the financial challenges faced by artisans. The roundtable, attended by Wakili Fred Odumo, a politician eyeing the Kisumu County senatorial seat, brought together representatives from the seven sub-counties in Kisumu, where the discussions revolved around the artisans' desire to formalize and strengthen their financial structures. Onditi highlighted the potential benefits of the Sacco, noting that it would allow members to pool resources and acquire much-needed materials for their work. "We have been yearning for a Sacco for a long time, and I am pleased that we are now moving closer to realizing this dream. This Sacco will enable us to set up hardware stores and stock materials that Jua Kali artisans frequently use," she said. She further explained that many artisans are often unable to participate in national and county government contracts due to a lack of financial resources. "The Sacco will open up opportunities for us to secure funding that will enable us to bid for these tenders, which are currently out of our reach," Onditi added. Kisumu National Federation of Jua Kali Association members during a round table in Kisumu.[Washington Onyango,Standard] Wakili Fred Odumo echoed these sentiments, stressing that the formation of a Sacco would empower the artisans to access bid bonds and other financial services offered by banks. He emphasized the need for artisans to organize themselves structurally to benefit from such services, which would in turn enable them to compete more effectively in the business arena. "Our people need to engage in business with both the national and county governments, and this can only happen if they are financially empowered," Odumo said. "If you come together and form this Sacco, I commit to supporting you by covering the cost of registration and providing seed money to kickstart the initiative." Odumo underscored the significant role that the Jua Kali sector plays in Kenya's economy, noting that it is the largest employer in the country. He urged the artisans to take advantage of the opportunity to formalize their operations, which would attract support from corporate bodies and government agencies. "The Jua Kali sector is critical, especially for young people fresh out of school and retirees. We need to establish structures grounded in law to ensure the sector thrives," he remarked. During the meeting, Jua Kali artisans from Seme Sub County raised concerns about a machine they had received from Cabinet Secretary for Cooperatives and MSMEs, Wycliffe Oparanya. They explained that although the machine had been donated, they lacked the power supply required to operate it. In response, Odumo assured the artisans that he would explore ways to assist them in overcoming these challenges. Kisumu National Federation of Jua Kali Association members during a round table in Kisumu.[Washington Onyango,Standard] "I have heard your concerns, and I will work with you to address them. Together, we will overcome these obstacles. Above all, I urge you to elect me in 2027 for a better Kisumu," Odumo said, positioning his candidacy for the upcoming elections. Paul Odhiambo, an elderly artisan from Kopere in Muhoroni, expressed his gratitude for the support from Odumo and the Association's leadership. He lamented the neglect the sector has faced from elected leaders in the past, despite its critical role in providing employment. "This sector employs so many people, yet it has been overlooked for years. I am grateful that for the first time, we are sitting down with a politician to discuss ways to improve it for the benefit of our community," Odhiambo stated. As the Kisumu Jua Kali artisans look forward to the formation of the Sacco, the initiative is seen as a crucial step toward ensuring that they are not only financially independent but also better positioned to contribute to the region's economic growth.

Jua Kali sector in Kisumu eyes financial empowerment through new Sacco

Get Full Access for Ksh299/Week.

Stand With Bold Journalism.
Stand With The Standard.

Related Topics

Popular this week

Latest Stories

The Standard Insider

Digger Classified

GET OUR NEWSLETTER

CONNECT WITH US

FOR THE LATEST JOB ADVERTS

DIGGER JOBS

Digger Motors

Digger Real Estate

Jua Kali sector in Kisumu eyes financial empowerment through new Sacco

Get Full Access for Ksh299/Week.

Stand With Bold Journalism. Stand With The Standard.

Related Topics

Trending Now

Popular this week

Latest Stories

The Standard Insider

Digger Classified

GET OUR NEWSLETTER

CONNECT WITH US

FOR THE LATEST JOB ADVERTS

Stand With Bold Journalism.
Stand With The Standard.