Cooperatives and Micro Small Enterprise Development CS Wycliffe Oparanya has lauded the cooperative movement for its contribution to the economic development of the country.
Oparanya said saccos and cooperatives contribute immensely to the country’s gross domestic product and enhance the livelihoods of people across various sectors including agriculture, education, environment and the small and medium-sized enterprises by effectively mobilizing resources.
The CS made the remarks Saturday evening in Nairobi during the Ushirika Day award ceremony, where he awarded over 100 best saccos for their exemplary performance.
He said the government is enacting the Cooperatives Bill No. 7 of 2024, which is currently before parliament, to strengthen governance and enhance efficiency in the management and operations of cooperatives in Kenya.
Oparanya also highlighted the Sacco Societies Act 2008, describing it as key in the transformation of the cooperative movement.
Act No. 14 of 2008 is the primary legislation governing Savings and Credit Co-operative Societies (SACCOs) in Kenya. It established the Sacco Societies Regulatory Authority (SASRA) to license, supervise, and regulate deposit-taking and specified non-deposit-taking SACCOs to protect members’ funds.
The CS commended the current cooperative leadership for streamlining issuance of dividends to members, underscoring the government’s commitment to ensuring that the cooperative movement continues to safeguard members’ contributions.
At the same time, Oparanya urged the leadership to incorporate women and the youth in the management and operation of saccos.
During the National Ushirika Day Celebration Gala Dinner, various saccos received the prestigious awards from the Co-operative Alliance of Kenya (CAK) in recognition of their commitment to excellence, innovation, and sound governance.
Present at the event were State Department for Cooperatives Principal Secretary Patrick Kilemi, the Cooperative Alliance of Kenya (CAK) Chairperson Macloud Malonza and CAK Chief Executive Officer Daniel Mvari Sarube, among others.
by Douglas Namunane and Wangari Ndirangu
