Breaking Barriers and Building Bridges
The Kilifi Women Empowerment Cooperative Society (KWECOS), in partnership with the Kilifi County Government, launched the KWECOS Savings and Credit Cooperative (Sacco). The initiative aims to enhance financial literacy and empowerment among women across the county. By joining the Sacco, members of this women-led cooperative will gain valuable knowledge in savings, borrowing, and investment practices.
Ephie Wesa, the Chairperson of KWECOS, shared with the press that the creation of the Sacco was driven by the desire to offer women a solution to the myriad challenges they encounter daily. “Despite the county government’s efforts to implement favorable policies for women, there’s a gap in reaching those at the grassroots level. Our collaboration with the county aims to bridge this gap,” Wesa explained.
With an impressive roster of 357 current members, the Sacco is embarking on an ambitious outreach to enlist at least 1,000 new members from each ward in Kilifi. Wesa encouraged all local women to become part of this growing community, promising them a secure place for their finances under the Sacco’s vigilant and trustworthy management. “Our goal is to create a unique and transparent system. Our motto, ‘Breaking barriers and building bridges,’ reflects our commitment to transforming the lives of women in Kilifi through development,” Wesa emphasized.
Najma Mangi, the Treasurer of KWECOS, revealed that the Sacco has already amassed Sh208,000 from membership fees and an additional Sh48,000 in savings. She highlighted the variety of development programs and insurance options available to members, which are distinct from those offered by other Saccos in the region. “Our loan interest rates are designed to be favorable for our members. We’ve established by-laws specifically tailored to meet women’s needs, ensuring the security and growth of their savings,” Mangi stated.
New members, including Aisha Said, have expressed their gratitude towards the cooperative for its inclusivity, particularly towards women of low income. “This Sacco offers a lifeline to women who previously faced difficulties with informal savings groups (‘chamas’), which often come with unsecured loans and unstable structures. With the Sacco, we’re assured of a more reliable and secure way to manage our finances,” Said remarked.
