Savings and Credit Cooperative Societies (SACCOs) have been directed to conduct their Annual General Meetings (AGM) before the end of April in compliance with the regulations.
The Commissioner of Cooperatives David Obonyo directed Saccos’ leaders to ensure the annual meetings are held without undue delay for the current office bearers to seek fresh mandates.
Speaking Tuesday in Mombasa during the 7th Annual Sacco Leaders Convention at Sarova White Sands Beach Resort, Obonyo observed that a number of Sacco officials have overstayed in their respective offices due to disruptions caused by Covid-19 pandemic.
“For the last two years, a number of our saccos did not conduct their AGMs. Consequently, it implies some officials have stayed over five years without getting fresh mandates from the members. I want to ask those who have not conducted their AGMs, this time, we are not going to allow any excuses,” he said.
“We must arrange for annual meetings where all the key agendas are deliberated including election of officials, presentation of audited accounts, budgets and other items. You have up to the end of April to conduct the meeting as provided in your legal instruments,”
The Commissioner of Cooperatives told over 900 Kenya Union of Saving and Credit Cooperative Ltd (KUSCCO) leaders attending the convention that the State Department of Cooperatives has created an enabling environment for cooperative business to thrive in the country.
KUSCCO Chairman George Magutu and Managing Director George Ototo were senior cooperative movement leaders attending the three-day convention.
Obonyo singled out the Sacco leadership for demonstrating commendable leadership during the review of the Cooperative Bill, which is awaiting Cabinet approval before it is forwarded to Parliament for enactment.
He revealed that the cooperative sector contributes over 31 per cent of the national savings and contributes to the development of the country’s economy, wealth and job creation.
“I wish to reiterate the commitment of the government in creating a conducive environment for the growth and development of cooperatives in the country by having a legal framework, policies, and guidelines for cooperatives to thrive on. The presence of government officials is a testimony of partnership and commitment to develop the cooperative sector,” Obonyo reiterated.
He further observed that both the national and county governments have vital roles to play in creating legal frameworks and policies that would accelerate the growth of cooperatives around the country.
“I am also encouraged by the good turnout on the ongoing public participation for the levy of Non Withdrawable Deposit Taking Saccos (NWDTS). It’s worthwhile mentioning that the State Department is closely working with DTS to promote the Central Liquidity Facility (CLF) and Shared Services Platform to enable inter borrowing and shared ICT platform among SACCOs,” added Obonyo
He challenged the Saccos to develop innovative business models that would accelerate growth of their businesses, adding that the sector is facing stiff competition from other financial sector players.
“I urge all participants to grab this opportunity to share experiences amongst your peers and learn new ideas to steer growth and development in your respective SACCOs,” added Obonyo.
The Cooperatives Commissioner observed that despite Covid-19 challenges, the majority of the cooperative societies have recorded business stability to an extent of paying members over 10 per cent dividends.
He revealed that there are 14 million Kenyans who are members of cooperative movements adding that the sector has huge potential of enlisting the remaining bulk of the country’s population through responsive and attractive products and services.
“As we attract more of our population to join the cooperative movement, let us ensure the kind of product and services we are developing, they have to be responsive and attractive depending on the social economic environment of where we are operating. Let us not encourage the issue of copy and paste,” he added.
semaglutide without prescription generic rybelsus 14 mg where can i buy semaglutide
how to buy cenforce cheap cenforce 100mg buy cenforce online cheap
buy generic flagyl 400mg – oral metronidazole zithromax order online
buy azithromycin pill zithromax 500mg uk azithromycin 250mg brand
order sleeping tablets online uk order meloset 3 mg without prescription
vardenafil 20mg brand vardenafil online order buy levitra pills for sale
lasix 40mg pill buy furosemide pills for sale furosemide 100mg uk
viagra over the counter viagra 100mg pill viagra 100mg without prescription
chloroquine cost buy aralen pill aralen 250mg uk
baycip canada – how to buy cipro augmentin for sale online
generic lyrica 150mg order pregabalin 150mg without prescription order generic pregabalin 150mg
clarinex brand order clarinex generic clarinex price
purchase amlodipine generic buy amlodipine 10mg generic amlodipine price
tamsulosin 0.4mg usa buy flomax pills for sale celecoxib 200mg generic
ventolin 4mg inhaler albuterol drug albuterol order online
inderal drug clopidogrel for sale online clopidogrel cheap
order orlistat without prescription order diltiazem generic generic diltiazem
buy azithromycin 250mg generic buy azithromycin 500mg pill order zithromax 250mg generic
buy generic amoxicillin 250mg buy generic amoxicillin 500mg cost amoxicillin 1000mg
clomiphene 100mg cost clomiphene oral clomid 50mg brand
buy atorvastatin 20mg online cheap order lipitor 20mg for sale atorvastatin medication
buy methotrexate 5mg online warfarin 2mg cost medex buy online
purchase metformin sale order glucophage 1000mg sale order generic metformin 1000mg
buy zidovudine sale – avapro cost allopurinol without prescription
methylprednisolone 8mg without prescription medrol 8 mg over the counter generic medrol online
buy priligy online cheap cytotec 200mcg ca order misoprostol pill
reglan order where to buy maxolon without a prescription losartan 25mg us
buy generic amoxil 500mg buy amoxil 500mg without prescription buy amoxil sale
buy loratadine 10mg pills order claritin 10mg online claritin where to buy
ivermectin dosage – ciprofloxacin 500mg ca purchase sumycin for sale
buy cheap hydroxychloroquine hydroxychloroquine 400mg canada plaquenil 200mg without prescription
purchase omeprazole for sale buy prilosec order prilosec 20mg sale
buy ciprofloxacin pill – buy trimethoprim generic buy amoxiclav
nausea medication near me order cipro 1000mg generic
buy generic doxycycline 200mg buy doxycycline pills for sale monodox order online
buy generic amoxiclav buy clavulanate pills clavulanate us
order acyclovir 400mg pill buy allopurinol online cheap oral allopurinol
hydroxyzine pill – atarax 10mg ca buy endep paypal
buy tenormin 100mg sale buy atenolol pills for sale tenormin cheap
cialis mail order cialis 10mg brand order tadalafil
order omnacortil 5mg pill omnacortil 40mg usa purchase omnacortil for sale
valtrex medication – buy nateglinide without prescription acyclovir pills
buy generic synthroid 100mcg synthroid 150mcg sale order levothroid generic
order clomipramine 50mg for sale – clomipramine 25mg oral buy generic sinequan
simvastatin ca valtrex 500mg cheap valtrex where to buy
buy acillin generic buy penicillin online cheap amoxicillin cheap
buy ciplox 500mg pills – chloramphenicol without prescription erythromycin 500mg brand
metformin online – order cefadroxil 250mg sale lincomycin canada
purchase gabapentin for sale buy gabapentin 600mg generic cheap gabapentin 100mg
crestor for sale online zetia buy online brand zetia