Page 32 - Issue 48_press_efile

POLICY AND REGULATIONS

CO-OPERATIVE LEADERS CALL FOR

STRENGTHENING OF REGULATOR
TO ENHANCE FINANCIAL
DEEPENING

From left: John Mwaka, CEO, SASRA, KUSCCO Group MD Mr. George Ototo, C.S Hon.
Peter Munya and Mr. Daniel Marube CEO, Co-operative Alliance of Kenya, during a

past function

By Nicholas Maina

Co-operative leaders want to strengthen the In the new Co-operative development
regulatory capacity of the SACCO Societies policy currently at the cabinet level,
Regulatory Authority (SASRA) instead of creating Government has proposed creation
another supervisory body. of Co-operative Societies Regulatory
Authority.
This they argue will help to enhance financial deepening in the entire Co-
operative movement. Co-operative Alliance of Kenya (CAK)
chief executive officer Daniel Marube
The leaders say that SASRA needs to be reinforced with a view to widening the brushed off the idea to form a distinct
supervisory scope to include the Non-Deposit Taking SACCOs (Non-DTS). regulatory body to handle the Non-
DTS, saying it will distort the current
regulatory model in the movement.

30| SACCO Star Magazine