Dolphine Aremo, the Director of Cooperatives for Nairobi County, said the government is seeking to strengthen Kenya’s cooperative movement through legislative reforms designed to improve transparency, sustainability, and public confidence.
She made the remarks while officiating the opening of Unaitas Sacco Society’s 34th branch in Nyahururu town, Laikipia County.
Aremo also rejected suggestions that the government plans to take control of Savings and Credit Cooperative Organisations, saying the reforms are meant to create a supportive environment for their expansion.
She said a significant number of SACCOs were barred from paying dividends to members this year after failing to comply with SASRA rules and regulations.
Unaitas Chief Executive Officer Martin Muhoho and Board of Management Chairman Michael Muriithi urged financial institutions to remain firmly committed to meeting the changing needs of members amid difficult economic conditions.
They stressed that institutions must continue providing dependable financial services to Kenyans despite the ongoing economic pressures.
Muhoho said financial institutions should identify ways to support members facing the harsh economic situation affecting Kenyans, helping them manage financial challenges where possible.
He said the Sacco has operated for 33 years, serving a broad customer base that includes farmers, small and medium-sized enterprises, employees of various institutions, and clients in real estate and asset finance.
He added that the new Nyahururu branch is expected to serve farmers in parts of Laikipia and Nyandarua counties, as well as traders and businesspeople seeking to save and grow their enterprises.
Michael Muriithi, the Unaitas chairman, said the Sacco is focused on expanding access to financial services as it continues to grow.
He said the Sacco is proud of its large membership, with more than 480,000 members and an asset base exceeding Ksh31 billion, ranking it fifth among SACCOs with the highest asset base in Kenya and first in membership in Kenya and across Africa.
Last week, President William Ruto and CS Wycliffe Oparanya praised Unaitas Sacco as the largest by membership and urged Kenyans to embrace the Sacco spirit.