Kenya registers 10 Saccos in Diaspora


May 25, 2017

By Stephen Makabila.

The Government has registered 10 Saccos in several American and European cities in a bid to establish a footprint of the Kenyan Co-operative Movement in the global business arena.
Cabinet Secretary (CS) for Industry, Trade and Co-operatives, Adan Mohamed, talking to Sacco Review said so far, those registered include two Saccos in the United States of America ( USA), two in Qatar, one each in Germany, Swaziland, Nigeria, France, South Africa and Canada.
More such initiatives are in progress in other parts of the world, he said, adding that the Government will continue to create an enabling policy, legal and regulatory framework for Co-Operative Development.
The Co-Operative Movement boasts of more than 22,000 registered Co-operatives commanding a total membership of more than 14 million Kenyans while the Sacco sub-sector alone has mobilized domestic savings in excess of Sh600 billion and an asset base of over Sh800 billion.

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