Africa-Press – Kenya. Deputy President Rigathi Gachagua has urged Kenyans to embrace the culture of saving so as to enable the government to stop borrowing from other countries.
Speaking during the 30th anniversary of the Solution Sacco in Meru, he said this will enable the state to instead borrow locally to finance its projects.
“We want to enhance the culture of saving in Kenya so that we borrow money as a country from our own savings. We have been borrowing from countries abroad,” he said.
Gachagua said the money the country used to borrow from the countries used to come from their savings. He went ahead and defended the government’s recent increment of Kenyans’ monthly deduction to the National Social Security Fund (NSSF).
The amount underwent an increment from Sh200 to Sh2,060. “We have changed the law to allow you to save substantially. The previous saving regime was insubstantial,” he said.
The DP added that they are working with parliament to amend the cooperative act. This he said is to enhance the financial inclusion of Kenyans, especially farmers.
For More News And Analysis About Kenya Follow Africa-Press
