State Department of Cooperatives Principal Secretary Patrick Kilemi on Tuesday led officials from the department on an engagement forum with the Senate Standing Committee on Trade, Industrialization and Tourism on draft Cooperatives Bill No. 7 of 2024.
The PS Â who was speaking during the forum in Naivasha said the bill proposed amendments are aimed at enhancing governance and streamlining the cooperative sector.
The draft bill recognizes devolution of cooperatives, promote good governance, and anchors cooperatives as key drivers of the Bottom-Up Economic Transformation Agenda (BETA).
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It also seeks to establish uniform norms and standards for the registration, regulation, supervision, and management of cooperatives, while creating a framework for consultation and cooperation among counties.
Some of the crucial sections of the bill include Governance and Oversight strengthening leadership structures to promote transparency and accountability within cooperatives.
It details financial Management and Reporting, new financial regulations aimed at improving SACCO stability and ensuring prudent management of member funds.
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The bill also has provisions encouraging the adoption of technology to enhance efficiency and service delivery within cooperative societies.
It also ensures cooperative members have a stronger voice in governance decisions and financial matters.
By Obegi Malack
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