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Economy

Nakuru plans revolving fund for co-operatives

Lee Kinyanjui
Nakuru Governor Lee Kinyanjui. FILE PHOTO | NMG 

Nakuru County will establish a Co-operative Revolving Development Fund for the societies after the assembly passed a Bill that will compel the devolved unit to set up the kitty.

The Bill, sponsored by nominated Ward Representative Elizabeth Gichuki, proposes that the fund provides low interest loans to cooperative institutions with a view to scaling up their lending activities.

“The fund will also support and revive institutions in areas that can have an immediate impact to the household economy,” reads a section of the Bill.

It will be forwarded to Governor Lee Kinyanjui for assent.

Members of the cooperatives societies will also be helped to market their products and services both in domestic and international markets.

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