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EXECUTIVE BRIEF
WORD FROM THE MANAGING DIRECTOR’S DESK
Welcome to the 43rd issue of the SACCO STAR! (Miscellaneous Amendments) (No.2) Bill, 2018 targeting to
I hope the cold hasn’t frozen your spirit of co- include Social Impact Members and investments. We hold
operation… the view that the amendment is against the Co-operative
principles in terms of member economic participation and
As you are aware, KUSCCO is committed the ICA resolution No. 193 . We hold the view the amendment
to advocating for matters that have implications on the is not in consonance with our core values, principles and
growth of the Co-operative industry and have been actively democratic administration.
challenging the amendments on the current legislation
governing the industry. We are relentlessly advocating for the review of various issues
amongst them; the Income Tax Bill 2018, Financial Conduct
We reiterate that the Co-operative sector can only thrive Market Bill 2018, the Legal Notice Order 51 on the SACCO
well in a conducive policy and regulatory framework thus the levy and are still imploring the Government to include SACCOs
challenges on the ground can only be solved through policy among financial institutions as channels to disburse devolved
direction and not piecemeal amendments of co-operative funds as SACCOs are trusted and better in governance.
laws.
In line with Kenya’s Big 4 agenda on advancing food security,
There is need to fast track the proposed National the Union in partnership with SNV Netherlands launched
Co-operative Development Policy 2018 to allow for Smart Water for Agriculture (SWA) program, availing low-cost
comprehensive review of the relevant legislation guiding the financial solutions and providing support to selected SACCOs
sector. through optimized irrigation amongst other agricultural
solutions. Do not shy off from visiting us to have more insight
Particularly, we have submitted our discomfort on the bill on this great opportunity.
to the Parliamentary Committee of Industrialisation, Trade
and Co-operatives a Memorandum on the Statute Law Fret not! We are on the last leg of testing our mobile agency
platform that will enable SACCOs leverage on mobile digital
4| SACCO Star Magazine services. This will not only lead to financial inclusion but also
increase SACCO penetration in Kenya.
In May, during our Annual Delegates Meeting (ADM), we
bid goodbye to Mrs Phoebe Nandwa, a Board Director
representing Nairobi region who diligently served the Union
in the last one year. Mr Wilfred Aima has since replaced her.
We celebrated Mrs Veronica Muchiri, Central Finance Fund
Manager who whole-heartedly served KUSCCO in various
capacities for over three decades until her retirement. Good
luck as you sail away onto the seas of retirement!
In conclusion, as we celebrate this year’s Ushirika Day, let us
endeavour to run our societies whilst respecting our natural
environment and the resources it offers,in line with this year’s
theme, “Sustainable consumption and production of goods
and services”.
God Bless Kenya and the Co-operative movement!
MBS, ICUDE
Managing Director, KUSCCO Limited
