Youth Saccos in Kenya – Kenya’s population of about 38 million, according to the 2009 census, is predominantly youthful, with 73 per cent being under 30 and 43 per cent under 15, making the youth factor an important social, political and economic factor.
The cooperative movement, therefore, has tried to ensure this group is absorbed into meaningful economic endeavours.
The Cooperative Insurance Company (CIC) is partnering with the Government to promote the cooperative model of enterprise among the youth, with university students being a key target group.
A campaign dubbed I am a Co-operative seeks to impress upon young people the importance of cooperatives as a development vehicle that can positively transform their lives economically and socially within a short period.
Other ventures include encouraging young people to form groups to engage in the boda-boda (bicycle and motor cycle taxis) businesses.
A special unit has been formed by the Co-operative Bank, offering special packages to the youth groups to enable them to get loans to buy motorbikes, vehicles and laptop computers and to start or enhance their businesses.
ICT is another area of exponential growth for the youth. Cooperative schemes for student groups are being funded to come up with ICT solutions for the country.
The one-youth-one-cow project targeting youths in the village is another initiative being funded by the Co-operative Bank.
The Ministry considers youth Saccos as one of the fastest growth areas for the movement and youth officers at the Ministry are working on legislation to encourage and support their growth.