Luo Nyanza lagging behind in savings, says MP

The Luo community has been encouraged to embrace the cooperative movement and establishment of more micro-financial institutions in the region as a way of uplifting their socio-economic standards.

Alego-Usonga MP George Muluan Omondi urged the electorate to come up with more Savings and Credit Cooperative Societies (SACCO’s) and strengthen them to boost the economy of their region.

Muluan said that the region was still behind in terms of development due to lack of proper micro-financial institutions hence the need to establish more.

He regretted that out of the Ksh 900 billion that the cooperative movement commands in Kenya, the entire Nyanza region enjoys only Ksh 9 billion, out of which the Luo-Nyanza commands a paltry Ksh 2 billion.

The legislator, who is a member of the Budget and Appropriation Committee at the National Assembly, stated that this is a clear indication that the people of Luo-Nyanza don’t save effectively.

Muluan was speaking during the launch of a poultry farmers’ micro-financial institution called ‘Upendo’ in Siaya town, where he said that it is unfortunate that the people of Luo-Nyanza have given 99% of their time to politicking at the expense of development, hence the slow pace at which they are moving economically.

The MP said it is high time they reduced unnecessary politicking and embarked on serious development matters for the region to realize effective socio-economic growth.