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Major boost for small enterprises as Saccos step in with Sh70 billion

By Nicholas Waitathu | Dec. 5, 2014

NAIROBI: Deposit-taking Savings and Credit Co-operatives (Saccos) advanced more than Sh70 billion to small enterprises last year, according to a new report. The report released Thursday reveals that Saccos used members’ contribution and savings to lend to micro, small and medium enterprises (MSMEs).

Compiled by Associate Consulting Africa Ltd, a management consulting firm, after a three-month survey undertaken in July to September 2014, the study indicated that the Saccos also used non-withdrawable deposits, Fosa deposits and other income to advance loans.

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