County Government of Laikipia

Several homesteads in Laikipia County have seen their children go through the education system without much interruptions courtesy of the County Revolving fund. This is a fund availed to SACCOs and other groups at just 6 percent and they, in turn, provide the same to their members.

Most of the SACCOs which have benefitted from this fund are formed by low-income earners in the society. They enjoy economies of scale by coming together for a common course - to help their members grow together.

Nanyuki Moi Equator(NaMoe) is a group of the non-teaching staff from Nanyuki and Moi Equator, brags of having all their children go to good schools and make great achievements in life. Some of the children who have benefitted through this group are now living large, in Kenya and aboard.

I have paid all the school fees for more than three children through the society, bought a plot, and developed it through the same. Generally, I have benefitted from all the different types of loans from this. said Mary Wanjiru, highlighting other loans available like medical and okoa loans.

Another beneficiary, Henry Machira has managed to educate his two children through high school and university courtesy of such funds, and even acquire more assets.

I can confidently say Namoe has educated my children, has bought me a vehicle, bought me land, and built me rental houses. My son is currently in the US for further studies.said Machira.

Currently their membership is not limited to the schools in Nanyuki and Moi Equator, but from any members from other schools, now accommodates 24 schools. Out of the 308 members, five have graduated to become teachers.

The loans given are in form of cheques deposited to the relevant school account as a guarantee that the money is used for educational purposes. However, those intending to use the money in other means also can get their money as well.

In the Cottage Sacco Society Limited, formed by non-medics from the Cottage Hospital in Nanyuki, the members contribute Ksh. 1,000 monthly and give out school fees and other emergencies payable in one year. The loan interest is at 1 percent per month. The membership now stands at 84.

Benson Mugwe, the Sacco chairman, describes the revolving fund as the most reliable source of fund that helped them especially when COVID-19 was high in 2020.

The money (from Revolving Fund) created confidence in the availability of money even when members are retrenched from their working stations.Mugwe said, adding that they have received Kshs. 700,000 twice from the fund.

These cases provide assurance and confidence on the need to form groups and societies. There exists a lot of different funds, from the government and otherwise, but only the ones with established registered groups reap huge benefits.

However, the County Government of Laikipia has partnered with other local banks to help the businesses in Laikipia to take loans. For each loan, the devolved unit is paying five percent for the loanee. The aim is to cushion the businesses against the harsh effects of COVID-19 that negatively affected the economy.