BANANA FRUIT WITH SEED INSIDE

IDLING ON THE SHOP VERANDAHS ON THE STREETS OF KERICHO TOWN IS NOT IDLING,BE WARNED !!!!!

Maddam selly and her daughter tyraletting off steam on the verandahs of one of the shops on Tengecha road in Kericho town

PROTECTING BORROWERS FROM MISSPENDING BORROWED FUNDS IN KENYA, NAIROBI, KENYA

PROTECTING BORROWERS FROM MISSPENDING BORROWED FUNDS IN KENYA, NAIROBI, KENYA

November 16, 2011

Posted by PROTECTING BORROWERS FROM MISSPENDING BORROWED FUNDS IN KENYA, NAIROBI, KENYA

 There are many reasons why anyone could misuse funds or just come across unavoidable circumstances that will eventually lead to the failures of their projects .The main and foremost reason in this case is usually lack of skills on how to handle money in the project owners. This lack of the skills leads to the misappropriation of the funds so that every section of the procedures in the construction or implementation of the project is not included in the financial plan so that in end, there arises unexpected expenses that consume up the funds leading to the shortage of funds and hence, problems in completing

the construction or the implementation of the project. times, it isn’t the lack of monetary skills in the People who are handling the project that cause the failure of these projects, it is the human weaknesses in them .The misuse of the funds by the project staff due carelessness, graft and much more on the list of human weaknesses that we know, all combined can cause this failures.

There have been reports of farmers who have misused their tea or coffee bonus payments or even loans from their Sacco’s of Banks. These farmers mostly spend their funds on entertaining themselves .Not even a single cent goes towards the intend projects .So because of such weaknesses and much more,They end up consuming the money instead of setting up whatever projects they had in their minds. They have very wise ideas but because of these weaknesses, they are unable to achieve their dreams.

This problem has been existing in this country since the days of independence .It is because of this problem that we thought it wise to ask some of our co-operative management experts on what measures they had taken as the country’s’ experts in the field towards helping people with these problems.

Our expert is the director of the Jamena Agencies in Kericho town and their offices are situated on the Posta Plaza building along the Kisumu to Nairobi Highway. The director gave us some advice concerning the issue.

The experts advise on how to help people who are borrowing loans from Sacco’s, banks or any other monetary organizations to utilize their loan funds well was this; the first and foremost thing is to get the entire Kenyan Population trained on how to handle money .This will equip every body in the country, old and young with the necessary skills in the use of their money. They will then know how to spend each and every coin that they earn in their daily lives and thus save them from the mistakes that they find themselves in due to their ignorance.

The second solution to the problem is to have the Sacco’s or banks or whichever monetary organizations that they might be involved in the transaction with do what we call “Asset Financing”.

With Asset financing, the borrowers aren’t given the cash directly in the hand, instead, they are provided with whatever services or assets that they all looking for by the banks or monetary institutions that will have gone to for the loans and then they are left only to manage the projects. The Monetary institutions will build all the assets that will be needed in order to form whatever kind of project they will be wanting  and then when the projects will be complete ,they will then handover the projects to the owners who will then be expected to be responsible for the everyday operations of the project.

This is considered to be the most effective way of saving the borrowers from falling into a misfortune due to their ignorance in the loan spending management .It is a shortcut and very easy way of helping the borrowers to achieve their dreams when go for help from money lenders.

The above mentioned techniques are considered as the best alternative to giving the borrowers hard cash which they can easily spend.

john ambuli. Posted In: SACCOS 

THE ROUTE K64 SACCO OF KERICHO DISTRICT PLANS TO BECOME A MICRO FINANCE INSTITUTION, NAIROBI, KENYA

THE ROUTE K64 SACCO OF KERICHO DISTRICT PLANS TO BECOME A MICRO FINANCE INSTITUTION, NAIROBI, KENYA

The Route K64 Sacco intends to transform itself in to a micro-finance institution. According to the Sacco members that we interviewed in the last week of the month of October, the year two thousand and eleven, the society’s’ to officials held a meeting in Kapsoit Township, a small town on the outskirts of kericho town.

The sources ,who are very reliable, said that the staff members who met here  were expected to discus on how they could get the all the resources and information ,manpower and how they could get all the assistance to enable the Sacco to transform itself well and smoothly up to its’ every day operations.

The Society is only eight months old but is already trying on big things .The staff member that we talked to told us that the society’s’ total assets plus the total savings and earnings for the period that it has existed amount only up to four million and the Sacco’s senior staff have seen it wise to transform the society in to a microfinance institution as a development move.

We weren’t able to access the proceedings of the meeting .All our efforts to meet some of the members who took part in the meeting or to get in contact with their headquarters weren’t successful but we hope to carry the reports about this meeting in our next issue of this magazine.

The route K64 Sacco is a transport Sacco in Kericho District .The society operates it transport business on the kericho to Eldoret route and back

FOUNTAIN PRIMARY SCHOOL IN KERICHO TOWN OFFICIALLY DECLRED OPEN

FOUNTAIN PRIMARY SCHOOL IN KERICHO TOWN OFFICIALLY DECLRED OPEN




Fountain primary school in kericho town, was declared officially open by the director of education in the ministry of education, Professor George kodia .The school had about four years earlier been enrolling students but it hadn’t been officially declared opened.



The ceremonies were held in the school compound on the eleventh date of the month of October this year .Activity started at eleven o’clock in the morning up to two o’clock in the afternoon.



The guest of honor who to resided over the function was supposed to be the ministry’s’ permanent secretary ,Mr. James Ole Kiyiapi,but due to untold circumstances, he wasn’t able to attend, instead he was represented by his director of education in the same ministry.



The school is among the high class group of schools in the town, Kericho primary school, ACK Primary are just but a few among the group.

LIZ AMPOFO AND SISTER

LIZ AMPOFOS PHOTO OF JOHN AMBULI