Join Sacco to boost your businesses - Homa Bay businesswomen urged

Women engaged in various economic activities within Homa Bay County have been urged to join the recently registered Homa Bay Women Caucus Savings and Credit Cooperative Society.

The SACCO's coordinator Jane Oriya said women will access more funds and grow their businesses through the savings and credit cooperative society.

Speaking during the elections of the women delegates who will represent each of the eight wards of the County, Oriya noted that economic development and growth are the single most important means by which poverty is reduced.

She noted that from most findings, the key barrier identified for the expansion of women-owned businesses has been finance and access to the market.

"Access to financial services and credit is still very unequal and is a major issue for women’s economic empowerment and development," she said.

Under the patronage of PS Interior and National Administration Dr Raymond Omollo, the recently registered Homa Bay Women Caucus Savings and Credit has brought together various investors and players to mobilise funds that will be accessed by businesswomen from the region.

These organisations include Banks such as the Cooperative Bank of Kenya, Kenya Agriculture and Livestock Research Organization, Uwezo Fund, Unga Ltd, Equity Bank, Pepea Capital and Lolwe Aquaculture Limited.

According to the caucus coordinator, the organisations will partner with the women through the Sacco to implement a number of investment initiatives that will be carried out by the various community-based organizations from all 8 sub-counties within Homa Bay County.

"The investments and projects will include Cold storage facilities in Suba South, Suba North, Karachuonyo and Homa Bay Sub counties," she said

The organisations will also support Soya Beans and Sunflower farming across all the subcounties within Homa Bay County according to the coordinator.

" We also plan to have a Fish processing plant, Water treatment plant, and Juice processing plant among other programs which will ensure close to 4,000 women engage in activities that will help give them an avenue to economically enhance their livelihoods," she said.

While addressing the women leaders, the Advisor to the President of Cooperatives, Steve Otieno told the women, that the Kenya Kwanza Government has embarked on various programs that will ensure women get opportunities to do business.

"The government is targeting those who wouldn’t otherwise be able to start up their own small enterprises to get opportunities from the available funds earmarked for them to enable them to realize their dreams," he said.

Philip Odino, the CEO Pepea Capital said that sustainable economic transformation and growth will require a shift from subsistence to production for the market.

"This economic transition is particularly important in creating new employment opportunities for women," he said.

Speaking at the event which was held at the Homa Bay ACK Guest House, Prof Shem Sam from Lolwe Investments Ltd appreciated the role being played by local and national leadership in working with women farmers to improve their livelihoods.

He assured women farmers of the commitment of Lowe Aquaculture Ltd, which has roped in Equity Bank and Unga Group Ltd to support the Soya Beans value chain in the region.