DOVE Springs SACCO continues to give low-interest business loans to members. The loans are giving many financial stability and hope for a better tomorrow.
Like every other young person, David was looking for an investment opportunity that would bring him good returns. He obviously needed to begin by saving, even though he was living on an allowance of about $150 per month. After being convinced by a good friend, he decided to join DOVE Springs Sacco in December 2016. Albeit sacrificially, he was able to save on a monthly basis and gradually increased his savings to the point that he could apply for a $1,000 loan a year later.
David then lease three 50×100 meter plots near his home in Rusinga Island. Here, he has a plan of planting onions due to their high demand in the market as well as sustainability in terms of resistance to pests and diseases. David has already ploughed his first piece of land and planted his first batch of onions, and is waiting to extend the project on subsequent plots.
When asked if he is worried about returns taking a while to materialize, David had this to say: “As young people, we want things fast and easy, sometimes without necessarily working for it. But my advice to the youth is to take time to think, plan, execute and finally receive.” He does not sound like a worried man whatsoever and in fact applauds the SACCO for giving him a loan repayment duration of twelve months.