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Government’s Move on Saccos That Will Leave Teachers & Civil Servants Greatly Relieved

Covid-19 pandemic has made life so difficult for Kenyans.Majority of them cannot fend for themselves following job losses.The country’s economic recovery seems to be an uphill task.However,the government is trying the much it can to revive the economy.President Uhuru Kenyatta is determined to leave a legacy despite the his efforts being derailed by the pandemic.
Some Kenyans who have been depending on the Saccos and banks have possibly depleted their savings.On the other side,those who had loans from these lending institutions are struggling to repay them to avoid the risks involved due to late payments.The mobile lenders are giving the lonees sleepless nights with frequent calls and threats of being traced.Luckily,the treasury had barred over 600 Saccos from listing Kenyans with mobile loans with CRB.

Kenyans have been trouping to the Saccos for loans as compared to the banks.This is because of their cheap and affordable loans at fair interest rates.Besides that,they offer some better dividends and even unsecured loans.These have made them become attractive to Kenyans.

The teachers and the civil servants are among the people who give the Saccos huge sums of money.They have successfully progressed with the Sacco loans.Luckily,the government has moved in to bring joy to those Kenyans in the Saccos.

The Government has itroduced new guidelines to the Saccos.Among them is aimed at the Saccos to drastically reduce their interest rates charged on loans.The Principal Secretary of Agriculture and Cooperatives Ali Noor has said this.If the guidelines are immediately implemented,then the teachers and civil servants who are regular customers in the Saccos will be greatly relieved.At the moment,Saccos such as Hazina Sacco is quickly getting grip of teachers and civil servants in the country.

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