Sh 70 million to revive collapsed Co-operatives

By

Mar 21, 2017
Share

By Wasike Elvis.

Uasin Gishu County Government through the Ministry of Trade is set to revive all collapsed Cooperative Societies in the County by giving out funds for this purpose.
According to the CEC in charge of Trade, Industry and Tourism Philip Melly, most Cooperatives collapsed due to mismanagement, corruption and lack of qualified staff to manage them.
“We have 562 registered cooperatives societieswith 300 out of this number beingfarmers’ Cooperatives. Only 60 Co-operatives are active while the rest are dormant. We have set aside some Sh 70 million to revive those Co-operatives that are dormant,” said Melly.
He disclosed that while some 74 new Cooperatives societies have been registered so far and 36 societies that had collapsed have also been revived. He added that Cooperative officials should be transparent and accountable and avoid embezzling of societies.
“As the County Government, we will play an oversight role by ensuring that every cent we give to Cooperative societies is used appropriately. Corruption has been identified as the main cause of collapse of many societies,” said Melly.
He asked members of Cooperative societies to report any misuse of funds by officials in charge of their societies, promising that stern action will be taken against those found culpable.
“The County Assembly has passed the Enterprise Cooperative Fund Bill into law to allow for disbursement of more cash to Cooperatives. So far, 11 societies have this financial year while some 32 societies will receive funds in the next financial year” said Melly.
He urged the youth to join Cooperatives in order to improve their livelihoods.

Leave a Reply

Your email address will not be published. Required fields are marked *