Government pushes for Sacco mergers and reforms

The Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development is pushing for amalgamation and mergers in the Saccos sector, with the ministry noting that over 90 percent of the sector's assets are controlled by regulated Saccos, with only 10 percent falling under the 13,000 unregulated Saccos. According to the Cabinet Secretary for MSMEs Wycliffe Oparanya, the co-operative sector's future will depend on both growth and reforms, with the ministry working on developing regulations for the implementation of the Co-operative Bill upon approval by Parliament. Jimmy Mbogoh has more.