Cabinet Secretary for Co-operatives and MSME Development Wycliffe Oparanya during KUSCCO 11th Annual Leaders Convention/Photo Courtesy
State rejects SACCOs request to pay interest and dividends from loans
The Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Wycliffe Oparanya has raised concern over growing financial mismanagement within savings and credit co-operative societies (SACCOs), warning that some institutions are pressuring the ministry to allow them to declare interest on deposits and dividends without adequate revenues or cash flows to support the…
