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How Increased cost of living is affecting SACCOs

31st March, 2022

The increasing cost of living is feared will disrupt reserves in the Savings and Credit Co-operative Societies (SACCOs) as depositors deplete  resources as they spend  more money to buy basic commodities as there is very little room for earning.

Leaders in the Sacco industry expressed fear that current situation of skyrocketing prices coupled with scarcity and the prolonged drought will eventually impact on the households income level and thus contribute to remittances reduction.