Cooperatives have been cited as a strategic vehicle for driving investment, savings and a culture of entrepreneurship to help create wealth at Kenya’s grassroots. Speaking at the official launch of Shirikiana Sacco at Masinde Muliro University in Kakamega County, President H.E. Dr William Ruto described the cooperative movement in Kenya as the largest on the African continent.
It congratulated the more than 12,000 pioneer members of Shirikiana Sacco. The president further revealed that the National Social Security Fund (NSSF) has grown into a national platform for mobilising savings, with savings doubling from Ksh 312 billion to over Ksh 670 billion in 2 years.
The Shirikiana Sacco has been formed to support grassroots wealth creation alongside the agricultural revival in Western Kenya, including the revival of sugar factories across the region and investment in the coffee and dairy sectors as part of the grassroots wealth-generation strategy.
The Sacco will further provide social protection solutions for members through the Social Health Authority (SHA) subscriptions, loans, education loans, and last-respect benefit support.
Hon Wycliffe Oparanya, Cabinet Secretary for Cooperatives and MSMEs Development, confirmed the ministry’s commitment to building grassroots wealth by promoting a culture of saving and entrepreneurship.
“The sacco is focused on enabling our members to participate effectively in nation-building by providing extensive support to our farmers across the sugar, coffee, and dairy value chains through affordable credit,” he added.
Patrick Kilemi, Principal Secretary for Cooperatives, recognised the contribution of the cooperative movement in Kenya, which has a cumulative membership of over 8 million and controls over 1 trillion shillings in deposits.
Speaking on behalf of elected leaders in Western Kenya, Hon. Fernandes Barasa, Governor of Kakamega County, appreciated the development agenda in Western Kenya, citing the strengthening of grassroots wealth generation through cooperatives, infrastructure, affordable housing and investment in agriculture.
Other leaders present included Hon Musalia Mudavadi, Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs; Hon Moses Wetangula, Speaker of the National Assembly; Susan Mangeni, Principal Secretary for MSME Development; Dr Beatrice Inyangala, Principal Secretary for Higher Education; Dr Bonface Makokha, Principal Secretary for Economic Planning; Dr Jane Kere Imbunya, Principal Secretary for Public Service and Human Capital Development; and a host of elected leaders from the Western region.
