The National Assembly’s Departmental Committee on Trade, Industry, and Cooperatives has urged a new team tasked with modernizing the saving and Credit Cooperative Organizations (SACCOs) sector in Kenya to speed up the process.
The committee pledged full support to the new team, as Chairperson Benard Shinali (Ikolomani) gave the assurance during a meeting with the Committee of Experts assigned to review the Sacco Societies Act, 2008.
“As a committee, you can count on our full and unequivocal support. Our number one priority is to work with you to sanitize the robust cooperatives sector which has faced serious challenges in the recent past,” said Shinali.
“We will work together to see to it that we at least have a new legal framework that will streamline the industry that is key and very important to our country’s economy,” he added.
The five-member team was appointed on May 21, 2025, by Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises Development (MSMEs), Wycliffe Oparanya.
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The move followed revelations of massive financial irregularities within the Kenya Union of Savings and Credit Co-operatives Ltd (KUSCCO).
Today, the team, led by Chairperson Marlene Shiels, CEO of Capital Credit Union in Scotland, appeared before the committee to update Members of Parliament on their progress.
“We were convened on May 21, 2025, and given three months to do the review. We have until September to provide our first draft of our report to the CS,” said Shiels.
She added, “We are acutely aware the time is of the essence when it comes to the legislative framework, and we want to work very closely with you. We also give you our assurance that we will work within your time frames, and we will work with the committee very closely.”
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The committee also includes Maurice Smith from the African American Credit Union Coalition (AACUC), who is also a member of the US Supreme Court.
Other members of the expert team include Collins Harrison, an advocate of the High Court of Kenya specializing in constitutional and human rights law; Dr. Gamaliel Hassan, Chief Executive of Stima DT SACCO; and Dr. Nelson Kuria, Chairperson of CIC Insurance Group.
By Our Reporter
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