Senate endorses a bill to tame rogue Sacco officials

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By Malachi Motano

Rogue Sacco officials put are now on notice as Senate passes Cooperatives Societies (Amendment) Bill, 2020 to bring sanity to the sector

According to nominated Senator Agnes who sponsored the Bill, “Saccos have come under increasing public scrutiny of late, mostly on charges of loss of members. That creates a sense of wanting to find out what might be happening therein.

Dubbed Zani bill provides guidelines for registration of Saccos, stipulates the roles of the county and national government in the management of Sacco and outlines channels for dispute resolution arising from the Sacco.

The bill also wants the Cabinet Secretary responsible for matters relating to co-operative development to formulate a national policy framework and standards for the development and growth of cooperative societies.

The CS will maintain a register of approved audit firms in the cooperatives sector and formulate management standards for cooperative societies.

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