Kiambu County Director of Co-operatives Peter Ndegwa has called for better management of housing co-operative societies in the Country.
Ndegwa says societies should look after the welfare of their members to enhance development and growth.
He said called for improved management of assets, liabities and capital of the societies saying it will position the societies strategically in line with the Governments Big Four agenda on Housing.
“Following a difficult last year brought about by politics during the electioneering period, many organisations were not lucky to last because of the financial constrains,” he added.
Speaking during Urithi Housing Co-operative Society Limited’s seventh annual general meeting in Nakuru County, Ndegwa said good governance is a key pillar for growth and stability in societies across the world.
“The central theme is that the member is supreme and is the reason the society exists,” he said.
He said the Ministry of Industry, Trade and Cooperatives will be enhancing compliance surveillance to minimise leadership wrangles and ensure transparency and accountability to members of all cooperatives. “The conversion rates should been enhanced for members to realise value,” he said.
Ndegwa commended Urithi for weathering the political and economic storms occasioned by last year’s elections.
“It is worth noting that within seven years, you have registered tremendous growth in key areas. During the period, you have been able to grow membership to over 26,500, current assets have grown to Ksh3.7 billion, while current liabilities have grown to KSh3 billion,” he said.
“It is commendable to see that you are managing the cooperative’s expenses well, especially financial and administrative expenses,” he added.
Ndegwa asked Urithi directors led by their Chairman Samuel Maina to ensure available funds are well utilized and urged them to take advantage of emerging opportunities in the industry and in the economy at large.
“This way you will be able to build up reserves and disburse higher dividend shares to your honourable members,” he added.
He said the fact that Urithi Housing has handed over 500 houses, sold 3,000 parcels of land and issued over 6,500 title deeds has not gone unnoticed by both the national and local governments.
Ndegwa said the Kiambu County Government is committed to supporting Urithi and other housing cooperatives in line with the Big Four Agenda of Affordable Housing for Kenyans.
“We promise to work together especially on key areas of approvals, infrastructure and provision of amenities. “We therefore intend to hold meetings with leaders of societies in the key sectors of coffee, tea, dairy, pyrethrum, real estate to identify ways of improving our societies, in-order to ensure growth.” He said.