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EXECUTIVE BRIEF
WORD FROM THE MANAGING DIRECTOR’S DESK
Welcome to the 44th issue of the SACCO Development Policy. Secondly, we voiced our view
STAR! on amendments to laws governing the sector. Thirdly,
we strongly put forth our stand on the increase in the
After seasons of gloomy skies, the sun SACCO Societies Deposit Levy. We have indicated in
G@R?M@KKXRLHKDCNMTR
#NMrSITRSK@X the past that we do not concur with SASRA’s increase of
there and bask in the sun, make hay while it shines! the levy. In our view, the regulator’s backing of this has
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This quarter kick-started on a high note with Co- cost of borrowing and concurrently lower the number of
operators congregating for the 96th Ushirika Day. It people taking up SACCO loans. Given that Co-operatives
revolved on a theme urging Co-operatives to operate BNMSQHATSDSNNE*DMX@rR&#/SGHRGDMBDCDQ@HKRSGD
successful enterprises while respecting the natural economic growth of the country.
environment and resources. I applaud all societies
feted for exemplary performance both nationally and at Incase you missed the event, fret not. Flip through the
the County level. Kudos on your stellar performance! pages; we have a comprehensive review on this.
Like gallant soldiers, the Union is relentless in In September, the Union launched the Kilimo Loan, a
advocating for issues concerning the movement. On savings and credit scheme that avails money to farmers in
August 31, we held a consultative meeting to lobby for SACCOs. The product is part of an agribusiness unit under
the adoption of the draft Co-operative Development the Central Finance Fund (CFF) that continues to empower
Policy of 2017 as a Sessional paper and also expressed various Co-operators by issuing loans amounting to
our position on various legislations governing the Ksh 19 million to assist them in agricultural product
sector. The position paper spelt out three key issues. development. In partnership with Acre Africa, we also
First, we lobbied for the adoption of the Co-operative N? DQ@BQNOHMRTQ@MBDNOSHNMSNBTRGHNME@QLDQR@F@HMRS
losses related to climate change, pests and other causes
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#NMNSGDRHS@SDSNB@KKTRNQUHRHSNTQN?BDR
for extended details on this product.
In addition, through WOCCU, we also supported Kanoto
Horticultural Farmers Society in Makueni County by
drilling a solar driven borehole to be used to pump
water for irrigation. The Ksh 2 million project, set to be
complete by the end of September, will act as a ‘Demo’
farm where other farmers and SACCOs can learn best
farming practices, create jobs and pave the way for agro-
processing.
In conclusion, I urge leaders to move hastily and close all
loopholes to increase public trust in the sector and make
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God bless Kenya and the Corporative Movement.
MBS, ICUDE
Managing Director, KUSCCO Limited
4| SACCO Star Magazine
