This archive report was first published on 26 July 2019.
On July 20, 2019, President Uhuru Kenyatta marked the 97th International Co-operative Day at the Kenyatta International Convention Centre (KICC) in Nairobi, Kenya.
Speaking at the event, President Kenyatta emphasized the government's commitment to supporting the cooperative sector, which he described as a key driver of the country's economic growth.
Kenya's cooperative movement is renowned for its asset base, with Saccos holding the key to the most effective realization of the Big 4 Agenda. The sector's ability to mobilize savings and offer affordable credit to millions of households countrywide has been instrumental in its success.
According to the Department of Cooperatives, there are 23,000 registered cooperative societies in Kenya, 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.
President Kenyatta's pledge to increase policy interventions to fix loopholes in the sector is expected to further boost the cooperative movement, which is already ranked high in Africa and one of the best globally.
