KBC NEWS:      BUSINESS   
SEARCH KBC:
Chujwa Entry Form
About KBC
KBC TV Channels
KBC Radio Stations
Commercial Services
KBC Regional Offices
Contact us
Tenders & RFPs



TODAY:  Tue, Feb 09, 2010   5:49pm EAT

Ministries owe SACCOs Kshs. 1.2 B

Written By:Christopher Khisa/KNA   , Posted: Tue, Jul 22, 2003

The government will from now permit no one manage Savings and credit co-operative societies (SACCO's) without proper training in co-operative management. All manager of SACCOs will now be required to have at least a minimum co-operative society management certificate. Minister for co-operative development, Peter Ndwiga, said trained personnel would help stem the rampant financial mismanagement in the sector, as they will possess the required expertise needed to guide them in their work. The minister was speaking Tuesday at the ministry headquarters when he received a delegation from Ilembe Municipality of Kwa Zulu natal, South Africa. The minister emphasized the need for sacco mangers to uphold integrity if the co-operative movement is to grow. Mr Ndwiga revealed that local ministries owe saccos a whooping 1.2 billion. He said his ministry has proposed in the cooperative Bill 2003, that the commissioner of co-operatives be empowered with prosecuting powers to enable him prosecute those who renege on co-operative societies bye-laws. The Ilembe municipality director of Economic development and community service, Mike Newton, praised the co-operative movement in Kenya saying it is the largest in Africa. Present during the occasion included the Permanent Secretary in the ministry, Benjamin Sogomo and the commissioner of co-operatives, Humphrey Mwangi, among others.




©2010 Kenya Broadcasting Corporation. All Rights Reserved.  Terms & Conditions