Deputy President Rigathi Gachagua has encouraged Kenyans to embrace a savings culture, saying that this practice will enable the country to break free from the burden of external borrowing.
Speaking on Sunday during the 30th anniversary of the Solution SACCO in Meru County, Gachagua praised contributions made by cooperative movements in promoting economic growth and social development throughout the country.
“We want to enhance the saving culture in Kenya so that we borrow money as a country from our own savings. We have been borrowing abroad,” he said.
Gachagua added that they are working with parliament to amend the cooperative act, to enhance the financial inclusion of Kenyans, and especially farmers.
The Deputy President also defended the government’s recent increment of Kenyans’ monthly deduction to the National Social Security Fund (NSSF) from Ksh.200 to Ksh.2,060, saying the previous saving regime was insubstantial.
“We have changed the law to allow you to save substantially,” he said.
