Lodwar, 25 November 2024 (Public Communications and Media Relations)
A group of young entrepreneurs in Lodwar has formalized their venture by establishing a Savings and Credit Cooperative Society (SACCO). The group received its certification from Shemmy Ebulon, the County Director of Cooperatives and Marketing, marking a significant step towards youth economic empowerment in the municipality.
The newly formed SACCO held its inaugural meeting to elect interim office bearers and establish the board’s committee leadership.
Speaking at the certification ceremony, Director Ebulon commended the group’s initiative, stating, “The issuance of this certificate formally validates this SACCO as a legally recognized entity with the capacity to pursue its mission, recruit members, and grow as a Cooperative Society.”
The SACCO’s slogan, “Opportunities don’t just happen; we create them,” encapsulates the entrepreneurial spirit of Lodwar’s youth. Director Ebulon encouraged young people to join the SACCO, emphasizing the collective economic benefits.
Local media practitioner Emmanuel Ekuwom was elected chair of the board’s management committee. Other elected officials include Timothy Mbayi (Vice Chair), Irene Moraa Onderi (Treasurer), and James Kagiri (Secretary). Additional committee members are Isaac Liru, Immaculate Odongo, Peris Wanjiru, Everlyn Ngaina, and Rebecca Logilae.
The supervisory committee comprises Samuel Mayeku, Miriam Wambui, and Erick Munene.
The inaugural meeting also involved approving the SACCO’s borrowing and savings framework, appointing an auditor, and designating a banking liaison.
Director Ebulon affirmed the SACCO’s full compliance with legal procedures and its readiness to operate. He urged other local groups to consider forming or joining SACCOs to harness economic empowerment opportunities.
The County Government, committed to promoting SACCOs as financial growth vehicles, is actively providing technical support to groups with cooperative formation potential.
Principal Cooperatives Officer Naphtali Maeche, Cooperatives Officer Ekipor Sofari, and other county officials attended the milestone event.
