Enacting New Law Will Align Cooperatives for Growth

Kenya’s Cooperative movement is being primed to enhance its economic transformation, at a time the country is seeking to open up new frontiers to stabilise incomes, in the wake of runaway inflation.

Speaking during a consultative forum for co-operative leaders, the Co-operative Alliance of Kenya chairman Macloud Malonza said the 13 million strong members sector is better placed to register a shift in economic growth.

That is why the Co-operative Societies Bill into an Act of Parliament must be enacted urgently, as well as facilitate a review of the Sacco Societies Act to give regulators more capabilities to supervise players in the sector.

Malonza singled out support for coffee and the agricultural sector saying the State must urgently ensure they are able “to mill and market their coffee.”

This comes as President William Ruto has led calls to embrace a positive savings culture as well as the co-operative movement so that the country can reclaim its lost glory or economic empowerment.

The event over the weekend was also attended by the Cabinet Secretary, Ministry of Co-operatives and Micro, Small and Medium Enterprise Development, Simon Chelugui who urged the 22,000 registered co-operatives to protect members interest.

In Kenya, most co-operatives are founded within the agricultural sector. Agriculture dominates the Kenyan economy, accounting for 40 percent of the overall workforce.