Saccos plead for ministry to help enhance growth
What you need to know:
- “Since independence, we had the Cooperatives Development ministry, which used to adequately address our problems, but since it was turned into a department, the sector is not being taken seriously,” said Mr Isedorius Agola, the chairman of Cafosa.
- “Now that there is talk of a Cabinet reshuffle and the fact that the government has not reached the maximum number of 22 ministries, we are asking the President to consider reconstituting the Cooperative Development ministry,” said Cafosa Treasurer David Mwapaga.
Savings and credit cooperative societies (saccos) have asked President Uhuru Kenyatta to set up a ministry for cooperatives development to improve the sector’s fortunes.
Coast Association of Front Office Services Activity (Cafosa), Monday said the relegation of affairs of the cooperative movement to a department in the Industrialisation and Enterprise Development ministry, had stifled growth over the past two years.
“Since independence, we had the Cooperatives Development ministry, which used to adequately address our problems, but since it was turned into a department, the sector is not being taken seriously,” said Mr Isedorius Agola, the chairman of Cafosa.
“Cooperatives are key drivers of Kenya’s economy since they disburse over Sh400 billion in development loans across the country annually, the reason we feel the sector deserves a ministry,” he told the Nation in an interview.
CABINET RESHUFFLE
“Now that there is talk of a Cabinet reshuffle and the fact that the government has not reached the maximum number of 22 ministries, we are asking the President to consider reconstituting the Cooperative Development ministry,” said Cafosa Treasurer David Mwapaga.
They also asked Industrialisation minister Adan Mohamed to appoint a substantive chief executive officer at Sacco Societies Regulatory Authority (Sasra) following the expiry of Mr Carilus Ademba’s term, saying lack of an official at the highest office of the sacco movement had created a vacuum there.
Mr Ademba said after his tenure expired on April 30, the board recommended that his contract be renewed but the minister refused to do so. “To date, I don’t know the reason he refused to extend my term,” Mr Ademba said.
