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CS Adan Mohamed calls for tighter controls for Saccos

Cabinet Secretary Industrialization and Enterprise Development Adan Mohamed (left) and KUSCCO LTD Managing Director George Ototo (middle) arrives at the 2nd Sacco Leaders Convention and Regional Youth Forum at KICC Nairobi. PHOTO: MOSES OMUSULA/STANDARD

Saccos will have to strengthen their governance structures if they are to maintain their growth trajectory, Industrialisation Cabinet Secretary Adan Mohamed has said.

He said due to the unique business model of Saccos, they must rethink about the issue of governance to guard against theft of members’ deposits. Currently, Saccos hold over Sh600 billion of customer deposits.

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