- The ministry will issue comprehensive response later in the day as Jimi Wanjigi’s warning over SACCO funds stirs public anxiety
Cooperatives and MSMEs Development Principal Secretary (PS) Patrick Kilemi has dismissed claims that the government intends to divert members’ savings from Saccos to finance the national infrastructure fund.
In a statement posted on his social media page, Kilemi urged Kenyans to disregard what he described as misleading information circulating online, assuring cooperators that their deposits remain safe within their respective SACCOs.
“Fellow cooperators, please ignore the misleading information being circulated in our social media space that your savings would be diverted from your SACCOs to the infrastructure fund,” PS Kilemi wrote.
The PS’s remarks come in direct response to concerns raised by businessman Jimi Wanjigi, who on Sunday, July 5, 2026, warned of what he termed a deepening government interest in SACCO savings. In a post on his social media platform, Wanjigi claimed he had earlier predicted that the state would eventually turn to SACCO funds to plug gaps in its spending, cautioning that ordinary Kenyans risked being drawn into a wider economic crisis if such a move materialised.
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The infrastructure fund is part of a broader government initiative to establish a National sovereign wealth fund. Approved by the Cabinet in December 2025, the fund is designed to finance major public works while easing pressure on government borrowing.
Kilemi assured members that their deposits remain secure and emphasized that the government values the cooperative movement as a cornerstone of financial inclusion and grassroots empowerment.
He added that the ministry will issue a comprehensive response later in the day to address the concerns raised.
By Masaki Enock
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