Crown helps painters form sacco

Painters across East Africa can now raise capital for personal development after forming a savings and credit corporative societies (Sacco).

Crown Paints #ticker:BERG chief executive Rakesh Rao, who facilitated the process, said the new society, known as Team Kubwa Sacco, will build on their past engagement where the firm sponsored skills upgrading sessions across the region.

“Painters play a fundamental role in our business, and therefore we have seen the need to provide them an avenue for financial support and in addition help them ease the economic burdens that have been escalated by the coronavirus pandemic,” said Mr Rao.

Painter and interior decorator Eva Wachiuri said the sacco will address the poor saving culture that has seen many painters lead miserable lives in their old age.

“Painting is a physically engaging activity where an individual’s productivity falls as one ages and it is therefore important that one saves now for the long-term, ensuring they have ample cash for their idle years,” she said.