NAIROBI—A Shariah-compliant Savings and Credit Cooperative Society (SACCO), the first of it kind in Western Kenya region, will officially be launched tomorrow in Kakamega.
Prime Cabinet Secretary Musalia Mudavadi will be the chief guest during the ceremony set to be held at Kakamega Muslim Secondary School grounds.
The shariah compliant SACCO will enhance savings and create wealth among Muslim women and also enable them access halal financial services that will assist them establish and develop businesses to improve on their livelihoods.
According to the Organizing Secretary Western Kenya Muslim women Network, Ms Maryam Wandati challenges being experienced by the local Muslims were the driving force behind the initiation of the Shariah SACCO and that Savings and Credit Cooperative Society will provide investment opportunities and contribute to the empowerment of Muslim women in the Western region.
”Co-operative societies have been vehicles in which people in developed countries have improved their economic status and shariah compliant Western Kenya Muslim Women Sacco will offer residents same opportunity,” she said.
Maryam urged Muslim residents to join the sacco inorder to save more and spend less as this would also give them income and improve their capital base growth.
