Government Keen on Supporting Cooperatives – Gachagua

According to Deputy President Rigathi Gachagua, the administration is dedicated to supporting cooperative movements.

He stated that cooperatives play a significant role in fostering social and economic development through their 14 million-strong membership base which is constantly expanding.

“They contribute about 10 percent to our GDP, there are about 23,000 cooperatives in Kenya that employ over half a million people while employing more than a million and a half people indirectly in the inter linked sector,” Gachagua said.

The DP added that processed loans totaled Sh550 billion in 2022, while Sacco deposits reached over Sh600 billion.

“It is against this backdrop we have identified and made priority the cooperative movement because of its direct contribution to the economy. President William Ruto dedicated a ministry to help cooperative movement harness their full potential,” he said.

Gachagua claimed to have toured across the country investigating methods for fostering stronger civilizations.

He said that, among other things, the Cooperative Act is being amended by the executive and Parliament to improve financial inclusion for Kenyan farmers and regular citizens.

On Friday, the DP spoke at Solution Sacco’s 30th anniversary festivities in Kinoru Stadium.

He was accompanied by the governors of Meru, Kawira Mwangaza, and Laikipia, Joshua Irungu, as well as the secretaries of agriculture, Mithika Linturi and cooperatives and MSMEs. Simon Chelugui, MPS Rahim Dawood (North Imenti), John Paul Mwirigi (Igembe South), Muchangi Kalemba (Runjenjes), Dan Kiili (Igembe Central), and Julius Taitumu (Igembe North) are among the leaders of their respective communities.

Elizabeth Kailemia (Meru women Rep), Moses Kirima (Central Imenti), Dorothy Igoki (nominated), Mugambi Rindikiri (Buuri), Mpuru Aburi (Tigania East), and others are also included.

Cooperatives CS Simon Chelugui said, Meru is the third-largest cooperative movement in the country.

Chelugui argued that preserving culture promotes prosperity.

He asserted that the government ought to commend CEOs who have expanded modest Saccos into significant financial institutions.