ENSURE COOPERATIVE SOCIETIES COMPLY WITH SET REGULATIONS,MUTAI TELLS COOPERATIVE OFFICERS

ENSURE COOPERATIVE SOCIETIES COMPLY WITH SET REGULATIONS,MUTAI TELLS COOPERATIVE OFFICERS

Cooperative officers have been urged to ensure that cooperative societies are compliant with regulations set out in the act 2020 as this will give confidence to the general public that their resources are well managed.

While delivering Governor Jackson Mandago’s message on Friday during Kokwatai Investment 14th annual general meeting, Cooperative and Enterprise Development County Executive Member Ms. Esther Mutai warned against mismanagement and fraudulent activities in a cooperative society saying the law will take its course.

The CECM was accompanied by CAS for Public Service and Gender Hon Linah Kilimo together with former head of public service Dr.Sally Kosgei thanked Kokwatai investment for exploring new products as well as computerizing their operations in order to attract new membership particularly the young generation.

“Cooperatives must re-assses the way they do business, because current members require prompt and efficient delivery of services which cannot be done in a traditional manner therefore automation is key.”said Mutai.

She further noted that her docket has already acquired a software that is going to support cooperatives to computerize their operations given that currently most farmer based societies operate manually.

“We are also working towards building sustainabilty of cooperatives through re-engineering the processes and establishing policies in each cooperative across the county”she added

On her part CAS for the Ministry of Public Service and Gender said Kokwatai has remained to be strong investment cooperative society that has helped residents of Uasin Gishu County to acquire property,build houses among other investments.

She further urged the society to come up with a strategic plan to attract young generation to join the society.

“let us encourage young generations to be part of the movement because this is the only way our future generation can invest for the generations to come.”CAS Kilimo said.

She also hailed the Society for sticking to their core bussiness saying that many atimes Cooperatives start well but they end up diverting their attention from their core bussiness to other activities..

The Sacco which boosts of over 2000 members is involved in real estate development. They own a guest house located in West market and also deals with the buying and selling of land and commercial buildings.

It also had an asset base of over ksh140 million in 2020 up from Ksh 127 million in 2019.

Consequently, the society declared dividends of over ksh6 million in the financial year 2020 from ksh5 million in 2019 dispite the harsh economic times of covid 19.

F
F
Twitter
UGC_TheChampion on Twitter
Latest Tweet:
0 people follow UGC_TheChampion

F