Kenyans have been urged to join Savings and Credit Cooperative Societies (SACCOS) to own and invest in real estate readily.
Property purchase is considerably simpler and more economical when done collectively, claims Engineer George Kiiru, Chairman of Wanabarabara Housing Cooperative Association.
After presenting title deeds to the Wanabarabara Housing Cooperative Society members in Kisaju Kajiado County, Eng. Kiiru spoke to the media and emphasized the significance of joining housing cooperatives that allow members to own land and construct homes.
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According to the Chairman, purchasing real estate in Kenya is quite expensive. Because of the benefits of economies of scale, purchasing vast tracts of land in a group is more affordable than doing so alone.
The engineer said SACCOs are the way to go. This initiative is aimed at helping members to purchase land and construct houses in line with the government's desire for every Kenyan to enjoy equal opportunities and access affordable housing.
He revealed that the Wanabarabara Housing Cooperative Society had bought 5 acres in Kisaju and subdivided it into 33 plots for some of its members who intend to build housing units.
He continued by saying that since the Sacco's formation in 2018, its membership has expanded from just Kenya National Roads Authority (KeNHA) staff to include representatives from various government ministries.
Engineer Kiiru said SACCOS members can also save money and seek low-interest loans for property development.
According to Housing Society Secretary Charles Ogal, the cooperative movement in Kenya is highly strong and provides up to 45% of the country's GDP (GDP).
He added that joining cooperative societies can help one grow faster than individually. One of the group members, Edna Osore, who received the title deed for her land parcel, expressed her happiness at owning a plot of land and said she was free to construct a home and provide for her family's future.
She urged more women to get involved in the cooperative movement so they could own property and save money.
