Ladies Sacco Group Pleads to Govt Over Ksh80 Million Debt

A bunch of girls from Murang’a County are getting ready to shedding their multi-million block of residences constructed by means of a Sacco.

By way of the Murang’a County Ladies Sacco, the ladies pooled private funds by saving Ksh10 a day and buying loans to amass over Ksh100 million to assemble the residences.

Chatting with the press, Lucy Ndung’u, one of many members of Murang’a County Ladies Sacco, defined that they’d incurred a monetary debt of over Ksh80 million accrued over time.

She added that the monetary establishments had declined to increase the interval for cost, with the residences dealing with public sale for failure to remit the quantity.

“We’ve appealed to the financial institution to take away the penalties however they’ve declined. We’ve tried our degree greatest however they demand us to pay the Ksh80 million debt,” she informed Kameme TV.

Njeri Waweru, one other member of the Sacco, additionally appealed to Cooperative Cupboard Secretary Simon Chelugui to help in clearing the debt.

She identified that the residences have since created housing alternatives for college college students because the residences are positioned close to Murang’a College of Know-how (MUT). The residences include over 101 rooms with a median month-to-month lease of Ksh10,000.

“We ask Cooperative CS Chelugui to waive the penalties for our Sacco and help us on this scenario. Kindly bear in mind the hustler from Murang’a who’s making an attempt to make ends meet,” she defined.  

Whereas explaining how the woes started, Waweru acknowledged that the enterprise commenced easily, producing a median of Ksh1 million a month from the rooms whose month-to-month lease is Ksh10,000.

Nonetheless, the enterprise quickly started to crumble after the pandemic broke out in 2020, with a number of college college students vacating the premises owing to the powerful financial interval.

She defined that the enterprise did not recoup its momentum since then.

“We started these homes to assist the scholars however plainly they might not have a spot to reside any longer if our plight will not be adhered to,” she added.