Saccos demand uniform policy to stimulate sector’s growth
SEE ALSO :All set for anti-dumping agencyHe said cooperatives are a devolved function, operationalisation of a national policy to guide the sector will ensure harmony in the coordination and management of the sector as opposed to the current system where every county is coming up with different laws and regulations. He lamented that cooperatives had been denied the opportunity to work together and avoid duplications for lack of a national policy to guide their activities. “We hope that such a unified policy relating to the formation, registration and regulation of cooperative societies will eliminate the existence of pyramid schemes that fleece members” he said at the Mombasa showground. “We are asking the relevant authorities to expedite the formation of a national cooperative development policy that guarantees the growth of the sector,” he said. He expressed regrets that pyramid schemes masquerading as Saccos were soiling the sector as they were conning the public of their funds through false promises.
SEE ALSO :Saccos push for uniform policyThe unionist said the cooperative societies in the country cut across the key economic sectors including Finance and Housing. He expressed concern that some counties such as Mombasa and a number of other public organizations universities were not remitting workers’ monthly deductions to their respective saccos. However, Mombasa County Deputy Governor Dr. William Kingi, who was the chief guest, expressed willingness to remit the workers monthly contributions.