LETTER TO EDITOR

MUTETHIA WAMBERIA: Good governance in Saccos key for economic growth

The subsector faces challenges of fraud, non-remittances and external competition

In Summary

• The progress attained by these governance organs in moving Saccos from the perception that Sacco are “quasi- corporates” run in a village-like mentality to what we have now is to be celebrated. 

• The sector is also a source of employment with 500,000 people directly employed. This contributes to over 5 per cent of Kenya’s Gross Domestic Product.

The country's development through socio-economic gains driven by duly registered Saving and Credit Cooperatives (Saccos) must be acknowledged. 

Deposit and non-taking Saccos are unique ...

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