Savings and credit co-operative societies(SACCOs) and their sources of capital
Answer Text: Savings and credit co-operative societies(SACCOs)-It is an association of people who save their money into a common pool in order to provide loans to members to improve their standards of living.Main source of capital for SACCOS:-Loans from other well established institutions.-Membership fee paid by new members.-Retained profits when dividends are not distributed.-Interests on loans advanced to members.-Income from other investments made by the SACCO.-Members contribution in form of shares.
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