By Gilbert Ochieng
Busia County Chief Officer for Cooperatives and Investments Patrice Lumumba has revealed they have instituted stringent measures for Saccos aimed at safeguarding the savings of members.
Speaking during the 100th Ushirika day celebrations at Busia Vocational Training Centre, Mr. Lumumba said the county government will not relent in its pursuit to ensure members got the value of their investments.
He said the area has over 300 Saccos but only 140 are active.
“We need to streamline the operations of these non profit organizations to save millions of members’ investments from sinking,” Mr. Lumumba said.
He noted with concern that there is need for a paradigm shift to restore the hopes and aspirations of members who have abandoned other priorities to invest with Saccos.
Lumumba said some Saccos are running illegally without an office, Annual General Meetings and audited reports and added that he has put external auditors to audit the books of Saccos to restore members’ confidence.
He urged those borrowing from Saccos to prudently repay their loans so that others can also benefit from the same.
County Director Cooperatives and Cooperative Enterprise Development Fund Oscar Odaba said the county government will convert all table bankers to Saccos to empower members economically.
He urged Saccos to encourage voluntary registration of members.
He lauded Saccos for the strides made in revamping the sector and called on them to focus on service delivery.
“Saccos are non profit making organizations which should not aim at maximizing profits. They should embrace traditional cooperative model by charging 5 percent per annum interest,” Mr. Odaba said.
Co-operative Bank of Kenya Ltd Busia Branch Manager John Onsongo urged Saccos to grow their membership with Co-op Society which opened doors through Session paper no 10 of 1965 and gave birth to Co-operative Bank of Kenya.
He urged Saccos to embrace digitization which is key to the growth of cooperatives.
During the Ushirika Day celebrations, Faridi Sacco was awarded the best urban Sacco with a capital base of Ksh1.2 billion.
ACK Nambale Women Sacco was ranked the best rural Sacco.
Other Saccos awarded in the best rural categories include: Bumala Mashinani, Akukuranut Teso South, Fobbs Sacco Teso North, Samia Jokabel, Butula SME, Tangakona Value Chain, PV Fresh Fish Traders, Teso South Fish Farmers, Jairos Cooperative, Mulwanda, Butula Bamboo and Matayos Pig Farmers.
In housing, Busia Kilimo and Shippers Saccos were voted the best with Hamazon Matayos and Translax Samia Saccos emerging the best in the transport industry.
Ushirika Day is marked by cooperatives worldwide since 1923 and officially declared by the United Nations General Assembly on the centenary of the ICA in 1995. It’s celebrated annually on the first Saturday of July.
The aim of Ushirika Day is to increase awareness of cooperatives and promote the movement’s ideas of international solidarity, economic efficiency, equality and world peace.
This year’s Ushirika day theme was “Cooperatives Build a Better World”
