Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development, Wycliffe Oparanya has strongly reiterated the ministry's commitment to curb bad governance within cooperatives through the introduction of tough measures including the Co-operative Bill 2025.
According to Oparanya the Bill that is currently before the Senate entails strong policies that will guide the operations of the society hence will significantly enhance good governance and eventually curb the perennial problem.
Speaking in Mombasa before the Senate Standing Committee on Trade, Industrialization and Tourism, Oparanya noted that the ministry is planning to conduct an overview of the SACCO society ACT 2008, noting that there has been a great shift in the Kenyan market. "The ACT has existed for quite a long time now therefore there is a need to include new laws that will align with the current business environment within the country," he said. "Currently, we have Saccos with over 100 members making it difficult to manage the large groups through an AGM hence we recommend the inclusion of delegates to achieve smooth operations," said Oparanya.
He further expressed dismay with KUSCCO citing a significant drop of approximately Sh.300 billion as he highlighted the lack of strict law and policies as the leading reason thus the need for several reforms within the sector.
