Mudavadi Highlights Role of Cooperatives
He used the occasion to lobby for Kenya to host the first-ever WOCCU meeting, scheduled for 2026, a feat that will be a first in Africa.
Prime Cabinet Secretary Musalia mudavadi .Photo by Musalia Mudavadi.
By Robert Mutasi
Prime Cabinet Secretary Musalia Mudavadi said the cooperative society movements have immense transformative power to influence livelihoods for improved standards of living, thereby contributing to economic growth.
While addressing the 24th Savings & Credit Cooperatives Association-SACCA Congress in Naivasha on Tuesday, Mudavadi said cooperatives are important in mobilizing resources at different levels of agriculture, education, and small and medium-sized enterprises.
Representing the President, William Samoei Ruto, during the same event, Mudavadi said: “A prerequisite by governments and institutions seeking concessional funding should include recognition of cooperatives as key partners based on capability to create and manage resources effectively.”.
Cooperatives have great potential for uplifting communities by providing a structured format for mobilizing resources, particularly in the agriculture and SMEs sectors. By leveraging our collective savings culture, we can address critical financial challenges facing us, like the unsustainable debt burden confronting developing countries, said Mudavadi.
The SACCA Congress brought together over 1,600 participants from 24 countries to explore ways in which savings and credit cooperatives may be part of the solution to financial challenges.
Mudavadi underscored that from a wider perspective, the harnessing of the cooperative movement in enhancing the communities’ financial independence has been against the economic challenges that have faced.
He used the occasion to lobby for Kenya to host the first-ever WOCCU meeting, scheduled for 2026, a feat that will be a first in Africa.
“This meeting would be a milestone that avails an international podium to showcase Kenya’s commitment to the advancement of cooperative principles and fostering economic growth through unity,” he added.
The congress attracted key government officials who were Cabinet Secretaries: Hon. Wycliffe Oparanya, Ministry of Co-operatives and MSMEs Development; Dr. Andrew Karanja, Ministry of Agriculture and Livestock Development; and Hon. Beatrice Askul, Ministry of East African Community, Arid and Semi-Arid Lands (ASALs), and Regional Development.
Present also were several Principal Secretaries, a testament to the goodwill of the Kenyan government towards the movement.
The SACCA Congress is an annual event aimed at promoting the growth of savings and credit cooperatives in Africa and beyond. This year’s event is focused on finding innovative ways of enhancing savings cultures at reduced financial pressures on developing economies and also offers a window for stakeholders’ engagement and idea exchange.
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