Proposed regional law to speed up Co-operatives growth

The yet to be passed East Africa Community (EAC) Co-operative Societies Bill has been cited as a great move in allowing Co-operatives to promote and benefit from the regional integration agenda.
The Bill which, if passed will enable Saccos to do business in any of the three East African countries, has sailed through second reading at the East African Legislative Assembly (EALA) in Arusha, Tanzania and the rules are expected to enable the region to effectively respond to challenges facing the industry.
The rules allow each regional member to encourage efficient use of resources and boost the development of private sector organizations such as Chambers of Commerce and Industry, Confederations and associations of industry and agriculture which have been cited as drivers of the economy.
“The EAC Cooperative Societies Bill is complete as it answers to needs of all sectors and of pooling resources together through cooperatives, has led to fundamental progress and development,” said EALA member Nancy Abisai.
“It is a key piece of legislation that is in partial fulfillment of Article 105 and 128 of the Treaty for the EAC,” Nesura Tiperu, a legislator said. – Obegi Malack.

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