News Column

Rachel Tells Women in Coast to Save Cash

August 31, 2014

Philip Mbaji

DEPUTY President William Ruto's wife Rachael has urged Coast women to take advantage of the table banking concept and the Uwezo fund to fight poverty in the region.

Rachael said most women in the region have been unable to help in poverty eradication programmes because they have not formed self-help groups.

Rachael made the remarks after conducting day-long training to hundreds of women from Kilifi County women Juwaba hall in Kilifi town on Monday where she was flanked by Kilifi County MP Aisha Jumwa, MPs Gideon Mung'aro and Mustafa Iddi, governor Amason Kingi and his wife Liz.

"You can make a difference in your lives as well as that of the other members of the society if at all will will come together in groups, raise funds and pull together through this table banking concept," said she.

She said they had started the initiative in Uasin Gishu with only Sh 9.6 million sourced from the local women and politicians' contribution but the amount had grown to Sh 153 million barely four years after the funds drive.

She said: "This an initiative that seeks to have women contribute from as low as Sh 200 every month, put the cash together then distribute it to each other for business undertakings with the interest being distributed to members as dividends."

But she warned that the initiative would fail if at all they would venture into group business undertakings, allowing mass deposits as well as having a member belong to several groups.

She warned: "Although women are known to be faithful there are a few crooks amongst us who would take huge sums of money from financial institutions come deposit it with the group and vanish after taking a loan leaving your group to crumble."

MPs Mung'aro, Jumwa and Mustafa pledged to support the Sh 43 million county table banking kitty with Sh 5 million from their respective CDF kitties even as governor Kingi pledged to pump Sh 7million from his government.

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Source: AllAfrica

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