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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