During the 9th Kenya Union of Savings and Credit Cooperatives (KUSCCO) convention in Mombasa, the Principal Secretary Patrick Kilemi, emphasized the paramount importance of democracy in decision-making processes within the savings and credit societies, Saccos. He underscored that the consensus among members, delegates, directors, and CEOs is pivotal for progress in the sacco movement.
“Democracy should ensure smooth leadership transitions in the sacco movement, prioritizing the interests of sacco members,” asserted Kilemi, urging all levels of leadership within saccos to exert maximum effort in delivering optimal results.
Acknowledging the significant growth of the sacco subsector in Kenya, which has burgeoned into a trillion industry, Kilemi attributed this success to the commendable efforts of entities such like the Kenya Teachers’ Sacco Association (KETSA), Kenya Union of Savings and Credit Cooperative, (Kuscco), Cooperative Alliance of Kenya, (CAK) among others.
He expressed gratitude to all sacco stakeholders for their contributions to the movement’s remarkable milestones over the past half-century.
Highlighting the instrumental role of KUSCCO in unifying saccos under one umbrella, Kilemi stressed its pivotal function in preventing the collapse of saccos due to mismanagement. He issued a stern warning against financial malpractice, emphasizing the need for strict adherence to financial discipline among sacco institution managers.
Assuring sacco leaders and delegates of the government’s commitment to safeguarding funds and preventing misappropriation, He reiterated the importance of trust and sustainability in cooperative resources.
Despite challenges faced by KUSCCO in the past year, Kilemi expressed confidence in the new leadership’s dedication to strengthening the union of saccos and advancing the sacco movement’s role in economic development.
“The sacco movement relies on a robust KUSCCO. A strong KUSCCO translates to a strong sacco movement,” affirmed the PS, echoing the sentiment that collaborative and democratic decision-making processes are essential for the continued prosperity of the sacco movement in Kenya.
Share this story:
