Page 6 - SACCOStar Mag Vol 46 Press_txt.pdf
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EXECUTIVE BRIEF
WORD FROM THE MANAGING DIRECTOR’S DESK
W elcome to the 46th edition of the SACCO STAR! innovatively provide solutions for their members in line with
The year 2019 has started with renewed the four pillars namely; manufacturing, food security, housing
NOSHLHRL@MCBNM?CDMBDSG@SSGD2 "".RDBSNQ and universal healthcare.
will grow to unparalleled heights. Indeed, the
BNTMSQXrR ATRHMDRR DMUHQNMLDMS G@R HLOQNUDC RHFMH?B@MSKX In keeping with our mandate of advocating for SACCOs, the
owing to a more stable political environment, with projections 4MHNM G@R ADDM @S SGD ENQDEQNMS NE KNAAXHMF D?NQSR @F@HMRS
indicating an upward growth curve till 2022. The World Bank the Statute Law (Miscellaneous Amendments (No.2) Bill, 2018.
attributes the growth to economic expansion boosted by a The Bill proposed the introduction of Social Impact Members,
RS@AKDL@BQNDBNMNLHBDMUHQNMLDMSRSQNMFQDLHSS@MBDHM?NVR (SIM) through a Special Fund and Investments. We were of the
low oil prices, a rebound in tourism, and a government-led opinion that the proposed structure would put SACCO funds
infrastructure development initiative. at risk. Further, there was a likelihood of losses and penalties
related to other laws, for instance Proceeds of Crime and Money
KUSCCO remains steadfast in its mandate of speaking and Laundering Act, 2009.
representing our members in legal matters and business
QDPTHQDLDMSRSNE@BHKHS@SDFQNVSGNE2 "".R
(MKHMDVHSGSGHR Therefore, due to intense lobbying by the Union and the entire
we organized the 4th Annual SACCO Leaders’ Convention sector, we wish to report that the proposed amendments to the
which attracted over 600 leaders. The theme of this convention Cooperative Societies Act and the SACCO Societies Amendment
was ‘SACCOs-participating in the Big Four Agenda’ in line with Act on the Statute Law (Miscellaneous Amendments (No.2) Bill,
the Government’s programmes. We encourage SACCOs to 2018 were WITHDRAWN. We therefore thank you for helping
us create awareness on the dangers of this Bill by forwarding
messages to your members, Members of Parliament and other
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The Union also values strategic partners who assist in advocating
for SACCOs. In this regard, the sector was privileged to host the
President of the International Co-operative Alliance (ICA) Mr.
Ariel Guarco, and ICA Director General Mr. Bruno Roelants who
visited KUSCCO and other co-operative leaders in Kenya. This is
evidence of the critical role co-operatives play in the country.
I wish to thank you for your product patronage over the years.
In line with our ISO accreditation attained last year, we shall
endeavour to improve on our services and processes, to better
serve our members. We also have our eyes focused on our
vision, ‘To be a world class national co-operative organization.’
Finally, on behalf of the Board of Directors and Management of
KUSCCO Ltd; I wish all SACCOs fruitful deliberations as they hold
their Annual General Meetings to draw the strategic agenda for
2019/2020.
MBS, ICUDE
Group Managing Director, KUSCCO Limited
4| SACCO Star Magazine
