Co-operatives CS Oparanya announces inauguration of committee of experts to review SACCO Societies Act and new KUSCCO Transition Board

NAIROBI, Kenya, May 21 – The Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development led by Cabinet Secretary Wycliffe Oparanya has announced inauguration of two key institutional frameworks aimed at accelerating governance, accountability and regulatory reforms to strengthen SACCO sector.

Through the Ministry , Kenyan government has inaugurated a five member committee of experts mandated to review SACCO Societies Act 2008 and propose legislative and institutional reforms that align with emerging sectoral trends and global best practices.

Among the mandates of the committee include evaluating the relevance and effectiveness of the current Sacco societies act, aligned the act with cabinet approved policy directions which include establishment of a central liquidity facility for all Saccos, creation of Sacco deposit guarantee fund and development of a shared services legal and administrative framework.

In addition, the committee is tasked to review SACCO regulations, analyse current Sacco operations, benchmark with global Sacco models and evaluate Sacco administrative structures for efficiency and effectiveness.

Ms. Marlene Shiels, Chairperson CEO Capital Credit union of Scotland, Advocate Maurice Smith Member Africa American credit union Coalition (AACUC), Advocate Gina Carter CEO Husch Blackwell (USA) and Board Member, Redwood Credit Union, Dr. Gamaliel Hassan CEO Stima DT Sacco, Counsel Odhiambo Collins Harrison Advocate of the High Court of Kenya and expert in constitutional and administrative law are members of the committee of experts.

The Committee is expected to serve for three months effective immediately and is expected to provide comprehensive and actionable recommendations to guide future legislative amendments.

Furthermore, the Ministry presided over inauguration of new transition Board of Directors of the Kenya Union of Savings and Credit Cooperatives (KUSCCO) for a two year term following appointment by the Commissioner of Cooperative Development, following completion of the one-year term of the previous Interim Board which commenced on 1st May 2024.

Members of the KUSCO Board include Mr. David Mathegwa, National Chairperson Kenya National Police Sacco, Ms Jennifer Mburu National Vice Chairperson Mhasibu Sacco, Robert Njue WINAS Sacco, Osmane Katholwa, Stima DT Sacco, John Siro Imarika DT Sacco, Brenda Obondo KMA Sacco, Philip Rirei Noble Sacco, Michael Muriithi Unaitas Sacco, Ms Mary Kweyu Invest and grow Sacco, Charles Kioko GDC Sacco and Priscilla Maranga representative office of the Commissioner.

The new KUSCCO Board is mandated to lead the restructuring of kuscco to enhance efficiency and corporate governance, oversee asset recovery and protection of cooperative members interest and prepare Kuscco for its evaluation into a National Cooperative Federation as envisioned in the ongoing sector reforms.

“These two inauguration are part of a broader reform agenda to strengthen the SACCO sector’s resilience, accountability and sustainability the Ministry remains committed to promoting inclusive financial systems through cooperative-based structures”, said CS Oparanya.