Matiang'i to Kenyans: Stop Taking Loans to Go on Holidays

Interior Cabinet Secretary Fred Matiang’i has urged Kenyans to wisely invest loans taken from financial institutions.

Speaking during a function in Nairobi, Matiang'i has advised Kenyans against spending loans on things such as holidays and leisure.

While addressing police officers during the Kenya Police Sacco Annual General Meeting at Intercontinental Hotel, Matiang'i has called on Kenyans to develop a culture of saving and investing.

“You take a loan of Sh800,000 to go for a holiday of four days in Dubai then you come back and you can’t even service the loan. That is not a culture of we people who are savers. We must train them, especially those who started earning money recently and realize after saving some money they can borrow a million shillings."

"They think it’s a huge amount which will never end they say ‘if I drink Sh400,000, I will still have Sh600,000’. But before long you and I know it will be all gone,” Matiang’i explains.

Matiang'i has told police officers that the only way they can acquire assets and accrue other financial benefits is through saving.

“Let us encourage our fellow police officers and anyone else who is able to belong to a Sacco. We cannot make a directive on that matter; if we could I would have ordered that. But the law doesn’t give me such powers,” the CS says.

“There is a direct correlation between financially stable workers, their confidence at work and the service they provide. Most of our people who engage in these all manner of monkey business we are stressing about are people who are not concerned in making genuine, sincere basic savings.”

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