Equity Bank urges PSV saccos to strengthen savings culture for sustainable growth
Equity Bank Kenya is encouraging public service vehicle (PSV) Saccos to prioritize savings and financial literacy to secure sustainable growth. The bank recently financed a fleet expansion for NAKKONS Sacco in Nyeri County.
Why it matters
Promoting financial discipline in the transport sector is seen as a key driver for economic stability and improved infrastructure in Kenya.
Rutto said the partnership with transport Saccos extends beyond asset financing to include working capital, savings products
Public service vehicle (PSV) Saccos have been challenged to strengthen their savings culture, embrace financial literacy and adopt sound business practices to unlock affordable financing, build wealth and improve the livelihoods of their members.
The call was made by Equity Bank Kenya Director and Head of Retail Banking Carol Rutto during the flag-off of seven new public service vehicles acquired by NAKKONS Sacco in Othaya, Nyeri County. The acquisition, financed by Equity Bank Kenya, is part of the Sacco’s broader fleet expansion programme aimed at modernising its operations and improving members’ earning potential.
Rutto said while access to finance remains important, long-term growth for transport Saccos will depend on disciplined savings, prudent financial management and investments that create sustainable value for members.
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