How Smart Savings Sacco is empowering women entrepreneurs in Nyeri
Members of Smart Savings Credit Society Limited during a recent meeting held in Nyeri town. Photo/James Murimi
A small women’s merry-go-round savings group in Nyeri has grown into a fully registered savings and credit cooperative society (Sacco), providing financial empowerment and business growth opportunities to hundreds of women.
Smart Savings Credit Society Limited, founded two(2) years ago by John Wambugu with just 10 members, began as an informal rotating savings scheme.
However, recognizing the members' need for structured financial services, Mr Wambugu guided its transformation into a formal Sacco.
“We realised that women were not just looking for a place to contribute and withdraw funds, but wanted long-term financial security,” says Mr Wambugu.
“That’s when we decided to transition into a registered Sacco.”
Today, Smart Savings boasts over 500 members, offering structured savings, affordable credit, and investment opportunities.
The recent acquisition of its official registration certificate marks a significant milestone, solidifying its role as a recognized financial entity.
Through this transformation, members can now access low-interest loans to expand their businesses, build savings, and explore investment avenues.
The Sacco’s primary objective is to enhance financial independence among women while fostering economic growth within the community.
“The journey has been remarkable. We never imagined that a small merry-go-round would evolve into a formal Sacco,” said one of the founding members. “Now, we can save and invest with confidence, knowing our financial future is secure.”
As Smart Savings Credit Society Limited continues to expand, Wambugu and his team aim to extend their impact beyond Nyeri, promoting a culture of savings and financial empowerment among more women entrepreneurs across the region.
