Savings and Credit Cooperative Societies (Saccos) have been cited as a strategic vehicle for driving investment, savings, and a culture of entrepreneurship to help create wealth at Kenya’s grassroots.
Speaking at the official launch of Shirikiana Sacco at Masinde Muliro University in Kakamega County, President William Ruto, who was the guest of honor, described the cooperative movement in Kenya as the largest on the African continent. During the launch, the President congratulated the more than 12,000 pioneer members of Shirikiana Sacco.
He said the National Social Security Fund (NSSF) has grown into a national platform for mobilizing savings, which doubled from Ksh 312 billion to over Ksh 670 billion in the last 2 years.
The Shirikiana Sacco has been formed to support grassroots wealth creation alongside the agricultural revival in Western Kenya, targeting sugar factories across the region and also investment in the coffee and dairy sectors as part of the grassroots wealth-generation strategy.
He hailed the Sacco, which will further provide social protection solutions for members through the Social Health Authority (SHA) subscriptions, loans, education loans, and last-respect benefit support.
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Cabinet Secretary for Cooperatives and MSMEs development, Wycliffe Oparanya, confirmed the ministry’s commitment to building grassroots wealth by promoting a culture of saving and entrepreneurship.
“The Sacco is focused on enabling our members to participate effectively in nation-building by providing extensive support to our farmers across the sugar, coffee, and dairy value chains through affordable credit,” he added.
The Principal Secretary for Cooperatives, Patrick Kilemi, recognized the contribution of the cooperative movement in Kenya, which has a cumulative membership of over 8 million and controls over 1 trillion shillings in deposits.
Speaking on behalf of elected leaders in Western Kenya, Fernandez Barasa, Governor of Kakamega County, appreciated the development agenda in Western Kenya, citing the strengthening of grassroots wealth generation through cooperatives, infrastructure, affordable housing and investment in agriculture.
He said SACCOs continue to play a vital role in strengthening financial inclusion by mobilising savings and enabling citizens to invest, grow businesses, and improve their livelihoods. The cooperative movement remains a key driver of wealth creation and shared prosperity. He highlighted the importance of cooperatives in empowering communities economically.
Governor Barasa called on the Mulembe Nation to support the national development agenda, noting the steady rise in government investment across Western Kenya.
The Governor commended the President for continued investment in key sectors, noting that ongoing and planned projects worth over KSh 80 billion are improving services, creating opportunities, and driving development across the region.
Dr. Barasa urged unity among leaders and citizens to fully take advantage of these opportunities, encouraging residents to embrace cooperatives, government programmes, and development initiatives aimed at job creation, business growth, and improved service delivery.
In his speech, the Prime Cabinet Secretary, Musalia Mudavadi, said the journey to lasting prosperity begins with a simple but powerful habit: saving.
“A strong savings culture empowers individuals, strengthens communities, and provides the foundation for sustainable economic growth.”
Prime CS Musalia Mudavadi
As a nation, we must cultivate the discipline to mobilise, grow and protect our resources, ensuring that the fruits of our labour as farmers, entrepreneurs and professionals are invested productively to create wealth and opportunity for future generations”.
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He said the launch of Shirikiana SACCO, a new cooperative movement designed to mobilise savings and investments, expand access to affordable credit and unlock economic opportunities for millions of Kenyans, will also support MSMEs, strengthen agricultural value chains, promote financial literacy, enhance access to healthcare and education, and leverage technology to deepen financial inclusion.
“It also holds immense potential to create jobs, empower communities and accelerate economic transformation across Western Kenya and beyond. When people save together, invest together, and grow together, they build the foundation for shared prosperity.”
Speaker of the National Assembly Moses Wetangula said he has asked members of parliament to urgently review cooperative laws and close loopholes that expose members’ savings to mismanagement and loss.
He further called for a thorough review of the law to stop the plunder of resources, noting that weak governance continues to threaten savings in cooperatives.
Other leaders present included Susan Mangeni, Principal Secretary for MSME Development; Dr. Beatrice Inyangala, Principal Secretary for Higher Education; Dr. Bonface Makokha, Principal Secretary for Economic Planning; Dr. Jane Kere Imbunya, Principal Secretary for Public Service and Human Capital Development; and a host of elected leaders from the vast Western region.
By Wakhungu Andanje
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