This archive report was first published on 12 July 2019.
On the eve of this year's International Cooperatives Day, July 20, the Cooperatives Alliance of Kenya (CAK) is calling on both the national and county governments to establish a unified policy to stimulate the sector's growth.
CAK Chief Executive Officer David Marube emphasized the need for a standardized national policy, which he believes will spur growth across the 47 counties and eliminate the mushrooming of 'fake' saccos that have siphoned funds from unsuspecting members of the public.
According to Marube, a national policy will guide the sector to ensure harmony, as opposed to the current system where every county is coming up with different laws and regulations.
Marube further stated, "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.
SEE ALSO: Saccos demand uniform policy to stimulate sector’s growth
