Cooperative and Micro, Small and Medium Enterprises Cabinet Secretary Wycliffe Oparanya is calling for increased funding of the Cooperatives Tribunal in order to assist in expediting pending cases.
Speaking when he visited Kenya’s third largest sacco, Kenya Police Sacco, Oparanya said there are currently at least 14,000 cases which are yet to be concluded due to the funding constraints.
“I have no direct control apart from talking to the Chief Justice to give it more support so that they are able to clear these cases,” said Oparanya.
Oparanya further urged the Judiciary to consider the needs of members who are facing technological challenges as a result of digitization of court processes in order not to jeopardize the cases.
“Its only to approach the Chief Justice so that we can get support in terms of the Cooperatives Tribunal,” he said.
The ministry is further seeking to set up a fund to protect depositors from losses when saccos collapse.
“We are having a meeting next week on Wednesday to look at it and we are hopeful it will be one of the miscellaneous amendments that will come before the end of the year,” Oparanya added.
He further lauded Kenya Police Sacco for ensuring it operates within the law which has helped it grow its membership to 75,411 and an asset base of Ksh 54.2 billion as at the end of last year.
During the year, the sacco also grew its loan book to Ksh 45.7 billion as total total revenue and deposits reached Ksh 8.7 billion and Ksh 31.7 billion respectively.
On the other hand, Kenya Police Sacco booked a core capital amounting to Ksh 17.8 billion.
