During the Imarisha Sacco Society delegates’ induction at Lake Naivasha Resort, Nakuru County, Secretary Administration Mr. El Samma Ndegwa represented Cabinet Secretary Simon Kiprono Chelugui and conveyed his greetings.
He expressed gratitude to the Board of Directors for the invitation and emphasized the importance of fostering relationships among the various stakeholders for productive engagement in Sacco activities.
He also lauded the cooperative’s outstanding performance, highlighting its large membership, substantial assets, significant loan portfolio, and impressive return to members.
Mr. El Samma assured the Imarisha delegates that the government is dedicated to addressing the challenges faced by the cooperative sector. He mentioned the upcoming enactment of the Cooperatives Bill 2023, which will establish a robust legal framework to promote competitiveness and sustainability within a devolved governance system.
Additionally, he discussed the implementation of the Deposit Guarantee Fund to protect members’ savings and the establishment of the Central Liquidity and Shared Services Facility to facilitate Sacco participation in the National Payment system and inter-Sacco lending.
Furthermore, Mr. El Samma highlighted the government’s transformative reforms, including the coffee bill and regulations, as well as the Cooperative regulations, which aim to drive the socio-economic development of the cooperative sector.
He also mentioned the revitalization of productive value chains, such as maize and cereals, sugarcane, tea, artisanal fishing, dairy, artisanal mining, edible oils, coffee, housing, livestock, cotton, macadamia, and avocado, among others, as areas of focus through cooperatives.
