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International collaborations to strengthen Saccos – Chelugui

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CS Simon Chelugui
Cooperatives and MSMEs Development Cabinet Secretary Simon Chelugui. PHOTO | File

Kenya’s cooperative movement could benefit from international best practices through global partnerships according to Cooperatives and Micro Small and Medium Enterprises Cabinet Secretary Simon Chelugui.

Speaking in Atlanta, United States when he presided over the signing of a Memorandum of Understanding (MoU) between Trustage and Africa Confederation of Co-operative Savings and Credit Associations (ACCOSCA), Chelugui highlighted the vibrancy of  Savings and Credit Cooperative Organizations (Saccos ) in Kenya.

Kenya’s cooperative movement is currently the largest in the continent with six million members an asset base of more than Ksh 810 billion.

During the visit, Chelugui said the government is committed to the development of the sector as Kenya is set to host the headquarters of Africa Confederation of Co-operative Savings and Credit Associations (ACCOSCA) in Nairobi.

AACUC Chair Maurice Smith will be part of the global Sacco chief executives visiting Kenya later in November this year.

“In the same spirit, the great Republic of Kenya has been selected to host the African Confederation of Cooperatives Savings 24th Annual Congress. On behalf of the Government of Kenya, I would like officially invite the leaders of AACUC to be part of the 24th SACCA Congress. This will be an ideal connection with the motherland Africa,’ said Chelugui.

The MoU Accosca will see the organizations conduct trainings on governance, leadership, management and other partnerships.