The SACCO industry has typically proved its resilience with the COVID, as evidenced by SASRA's numbers for 202131 March, 2022
The SACCO industry has typically proved its resilience with COVID, as evidenced by SASRA's numbers for 2021.
SASRA CEO Mr. Peter Njuguna remarked during a cooperative leaders meeting in Amboseli that as COVID comes to a close, you will notice that there are now additional geopolitical challenges that are arising, which, like Ukraine's case, are raising global concerns in terms of interrupting value chains.
He also stated that factors such as fuel and the like cannot be overlooked and that in Kenya, it has been reported that drought is predicted, with over 3 million people reportedly starving and that all of this points to climate change.
He said that some of the food baskets are contributing to our inflation, and it is a concern that where we are as likely to affect what is known as disposable income because if consumer goods prices fall, it means that people will hold back on disposable income to survive, pay for school fees, and so on, because those are real concerns that we'll see how they unfold over time, and people will generally want to hold back in terms of consumption on essential items.