SACCO act under review to address emerging issues

By Hellen Nderu

The SACCO Act in the country is currently under review to address emerging issues of regulations and governance in SACCOs, so as to realign them with the new constitution and county development.

Investment and Trade Cabinet Secretary Adan Mohamed has called on SACCOS to employ professionals so as to move to higher level performance and dynamic space.

SACCOs are among the fastest growing sectors in Kenya, 1st in Africa and 7th globally, creating employment opportunities for many unemployed Kenyans and have been key in poverty eradication.

Speaking during the Industrializing East Africa through Co-operatives forum, the CS emphasized on effective leadership in cooperatives as the key to the sector’s dynamic growth.

The Act which is under review to align it to the new constitution could see county governments implement a new set of rules spelling out how co-operatives will be operating under the devolved units.

The ministry of Trade in a move to enhance economic growth has allocated financial resources to the youth to support them in embracing innovation.

  

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