NAIROBI, Kenya Feb 11 – President William Ruto has reaffirmed the government’s commitment to reforming Savings and Credit Cooperative Organisations (SACCOs) following the submission of a comprehensive review report by an expert task force.
The reforms aim to modernise the cooperative movement and strengthen its capacity to provide affordable financial services to millions of Kenyans.
Speaking after receiving the report, President Ruto emphasized the importance of safeguarding members’ savings and ensuring SACCOs remain stable and sustainable.
The task force recommended a raft of measures, including digitisation of operations, integration of fintech innovations, and the adoption of shared services platforms to streamline processes.
The reforms also prioritize enhanced governance structures to address accountability gaps and protect members from financial mismanagement.
SACCOs remain a key pillar of Kenya’s financial ecosystem, providing credit facilities and savings platforms to individuals, small businesses, and community groups across the country.
