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Isiolo County gets first Shariah compliant Sacco

BUSINESS
By Ali Abdi | June 30th 2014

Isiolo County has launched the first Shariah compliant savings and co-operative society (Sacco) for women and youth. The initiative by the County Woman Representative Tiyah Galgalo on Saturday evening raised an initial Sh8.5 million.

Ms Galgalo intends to raise Sh20 million for the 10 Wards in the County by October to jump start women and youth enterprise development.

Dubbed Vuna (harvest) Sacco, the legislator said, the initiative aims to help youth start small but serious enterprises that will help them and families.

Ms Galgalo was accompanied by Women Enterprise Fund Chief Executive Wainaina Wanjeri and Chairlady Mumina Gollo. She called on women to take advantage of the Women Enterprise Fund and Uwezo Fund to start small businesses.

Table banking

Ms Galgalo urged women to go beyond "table banking" and be empowered financially if they have to start businesses, adding that empowered women are key to developing the society. ''Merry-go-round is good but we cannot go far by this. Women are good in business and they require to be boosted financially to start big business,'' she said.

The Vuna Sacco will in each of the 10 Wards bring on board women and youth groups. The funds raised will be an additional boost to their already existing activities. In trading centres like Kinna, Garba-Tula, Modogashe, Merti and Oldonyiro, which do not have commercial banks, the Sacco will provide banking services to the locals.

''Majority of Isiolo residents have no access to banking services and the Sacco branches will go a long way in providing banking services,'' she said. MS Galgalo noted that women in Isiolo had shown leadership in development and called on residents and the County leadership to support them.

''All of us must be judged by what we do. MPs have CDF while the Governor controls county funds but women representatives do not have any allocation,'' she said.

The legislator called on the pastoralists' communities to take up more of the development funds and employment. She called on women from pastoral and Muslim communities to engage in business to help their families.

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