The Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Development, Hon. Wycliffe Oparanya has emphasized the need for urgent reforms and a renewed focus on member satisfaction within the cooperative sector.
During a press briefing with the Kenya National Police DT SACCO, CS Oparanya emphasized the crucial role that SACCOs play in driving economic development.
Cabinet Secretary Hon. Wickliffe Oparanya during cooporative sector reform press briefing
He noted that SACCOs have successfully mobilized over 1.2 trillion shillings in savings, disbursed 1 billion shillings in loans, and amassed an asset base of 1.7 billion shillings.While commending the Kenya National Police DT SACCO for its exemplary performance, CS Oparanya acknowledged that not all SACCOs have achieved similar success.
He stressed the importance of strong corporate governance and announced the government’s commitment to introducing a new cooperatives bill to address this issue. “SACCOs have the potential to be powerful drivers of economic growth and social development in Kenya,” CS Oparanya stated.
Mr. Solomon Atsiaya, CEO of the Kenya National Police DT SACCO,echoed the Cabinet Secretary’s sentiments, emphasizing the critical role of SACCOs in driving economic development and empowering communities. “The DT SACCO is committed to innovation and member satisfaction looking fow to enhance our products and services and improve the overall member experience.” He added.
The Cabinet Secretary expressed a vision for a future where SACCOs are empowered to self-regulate, with government oversight limited to ensuring the safety of depositors’ funds.
The press briefing highlighted the government’s unwavering support for the cooperative sector and its recognition of the critical role that SACCOs play in empowering communities and promoting economic growth.
