Cabinet Secretary in the Ministry of Cooperatives and Micro and Small and Medium Enterprises Wycliffe Oparanya has said the government has prioritized improving corporate governance in the cooperative movement to spur growth in the sector.
The CS observed that good governance within the cooperative movement would also enhance integrity in the critical sector, which is one of the economy's integral pillars.
Speaking at a Nanyuki town hotel when he closed a two-day retreat for senior managers and section heads on Ministerial performance review, Oparanya also directed that both the state departments of Cooperatives and that of Medium, Small and Micro Enterprises (MSMEs) should finalize their charters and strategic plans before the end of the financial year. "We also need to carry out an impact assessment both in the cooperatives and MSMEs, which should be an ongoing process, and that's why we require new regulations, policies and legal frameworks, which are instruments that help us achieve our goals," he said.
He also announced that the government was in the process of reviewing the Saccos Act of 2008 to enhance good governance in the cooperative movement. " We have already engaged a team of experts to work on it, and it has passed the National Assembly and is now in the Senate," Oparanya added.
