Photo: Uhuru attends Ushirika Day celebrations

President Uhuru Kenyatta arrives at this year’s World Co-operatives Day ‘Ushirika Day’ with Group CEO Co-operative Bank Dr. Gideon Muriuki and the Chairman of Co-op Holdings Co-operative Society Macloud Malonza [Photo, Courtesy].

Kenya marked the 97th International Co-operative Day at the Kenyatta International Convention Centre (KICC) on July 20, President Kenyatta said the government will increase policy interventions to fix loopholes in the sector.

Kenya’s cooperative movement is ranked high in Africa and is one of the best globally due to its asset base.

Saccos hold the key to the most effective realization of the Big 4 Agenda due to their ability to mobilise savings and also offer the most affordable credit to millions of households countrywide.

According to the Department of Cooperatives, there are 23,000 registered cooperative societies, which share among them 14 million members. Collectively, the cooperatives hold Sh732 billion of member savings, control an asset base of Sh1 trillion and a Sh700 billion loan portfolio.