Cooperatives & MSMEs Cabinet Secretary Simon Chelugui has warned rogue Sacco officials against embezzling funds belonging to Sacco members.
Speaking during the opening of the inaugural Co-operative Movement Stakeholders’ Annual Conference held in Pride Inn Paradise Beach Resort in Mombasa, Chelugui said the government is keeping an eye on the sector to ensure no money is lost.
“I want to warn those mismanaging Sacco funds that we’re using various government agencies to ensure no shilling belonging to any co-operative member is lost,” the CS said.
The CS asked Sacco members to choose leaders with integrity to avoid mismanagement of funds.
He further challenged Saccos to diversify in a bid to boost their revenues.
The conference ,which will come to an end on June 15, 2023, brings together representatives of stakeholders across the movement, including the Executive Arms of the National and County Governments, National Assembly and Senate leadership, National Co-operative Organizations (NACOs), unions and primary co-operatives, and development partners.
The conference is themed “Co-operative Model for Socio-Economic Transformation”.
By Vostine Ratemo
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