In order to view RS-Spotter you need Flash Player 9+ support!

Get Adobe Flash player

New policy finalised to spur growth of co-operative societies and SACCOs

New policy finalised to spur growth of co-operative societies and SACCOs

The government will soon come out with a national policy on co-operative development.
Industrialization Cabinet Secretary Adan Mohammed says the new policy will coordinate activities of co-operative societies at national and grassroots level to spur growth.
It will provide provisions relating to formation, registration and regulation of co-operative societies.
“The National Co-operative Development Policy, whose review is in the final stages of completion, will provide a road-map on promotion, growth and development of sustainable co-operative enterprises at the national and county government levels,” said Mr Mohammed in a statement.
“We are working closely with the Council of Governors to ensure that there is harmony in the coordination of co-operative programmes in the country.”
Changing environment
Mr Mohammed said the Industrialization ministry would continue to review the co-operative policy, laws and regulations, “as and when appropriate, to keep pace with the ever changing business environment.”
Co-operative societies in Kenya cut across all the key economic sectors, including agriculture, finance, transport and housing.
Official figures show that financial co-operatives, popularly known as savings and credit co-operatives (SACCOs), have mobilized savings to the tune of Sh600 billion with an asset base in excess of Sh800 billion.
Speaking recently, President Uhuru Kenyatta said co-operatives play a critical role in the Kenyan economy, terming them as vital engines for development.
Through aggregation of value chain actors into co-operatives, agricultural marketing co-operatives have enhanced the productivity of agricultural commodity value chains such as dairy and coffee,” said President Kenyatta.
“My government is supporting the modernization of the new Kenya Co-operative Creameries (new KCC) milk processing equipment as well as the coffee and dairy co-operatives and farmers.
"These and many other on-going initiatives have resulted in increased productivity and returns to farmers.”

Decent housing
Housing co-operatives have contributed to provision of affordable and decent housing, especially for the middle and lower income segments of the population.
To establish a footprint of the Kenya co-operative movement in the global business arena, Mr Mohammed noted, the government is promoting co-operatives for Kenyans in the diaspora, through which members remit funds and saving for investments and other domestic needs.


To date, 10 such co-operatives have been registered.

ISO 9001

KUSCCO has attained the highly coveted ISO 9001:2008 certification. The award represents KUSCCO’s commitment to the continuous improvement of service efficiency and effectiveness, customer satisfaction and superior performance in all business operations. This will also enable KUSCCO to compete effectively and to broaden its market outreach in the broader financial market.