Kenyans have been given two weeks to share their views on proposed changes to SACCOs.
In a notice on Tuesday, the National Assembly asked members of the public to send their comments on the Sacco Societies Amendment Bill before April 24.
The Bill, sponsored by Majority Leader Kimani Ichung’wah, is looking to bring changes in how SACCOs are run and regulated in the country.
One of the main proposals is the creation of bigger SACCO bodies that will help smaller ones work together, especially in managing money and offering services.
The Bill also wants to strengthen a fund that protects members’ savings in case a SACCO runs into problems or collapses.
Other amendments relate to leadership and management issues, as there is an intention to enhance the governance of SACCOs for greater transparency and accountability.
Currently, there exist a significant number of SACCOs in Kenya, some of which accept deposits while others do not, all monitored by SASRA.
According to Samuel Njoroge, the Clerk of the National Assembly, all the input received on the Bill will be considered before taking the bill further.
The bill can be accessed by the Kenyans either at the National Assembly building in Nairobi or on the internet and can be sent back to the Clerk’s Office via email or personally.
This comes just days after Cooperatives CS Wyckliffe Oparanya warned that thousands of SACCOs risk losing their licences for failing to follow the law.
He said out of about 13,000 SACCOs in the country, only a few regularly submit their reports, raising concerns about how some of them are being managed.
The government says the new changes are meant to protect members’ savings and improve trust in SACCOs.
