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Governor encourages Sacco managements to practice good governance

2 min read
The governor was addressing the Imarisha Sacco board and members during the official opening of the Eldoret FOSA branch.

Usin Ngisu Governor Jackson Mandago

Uasin Gishu Governor Jackson Mandago, EGH has urged Sacco managements in Uasin Gishu County to practice good governance in Saccos.

He warned that leaders in the cooperative sector and anybody who will be found culpable to have misappropriated members savings will be arrested and judged in court as that is the only way one can take responsibility over bad governance.

The governor was addressing the Imarisha Sacco board and members during the official opening of the Eldoret FOSA branch.

“Our mandate as a government is to oversite co-operatives across the county and capacity building to ensure that our cooperatives adhere to Sacco Society Regulations Authorithy,” said the governor

Mandago said his government has a fully-fledged Ministry of Cooperatives Development and Marketing with over thirty employees to strengthen governance issues.

He added that his government does proper regular audits so as to arrest any improprieties in cooperative societies before Saccos collapse, urging all cooperatives in Uasin Gishu County to participate in the Annual cooperatives day usually celebrated on July 4, every year.

“It’s not optional for Sacco’s to participate in the Cooperative day but it is a compulsory business because it’s a way we check on governance and capacity issues to ensure that our cooperatives are performing according to the standards set by the regulator, SASRA and County Governments regulations,” added the Governor.

The governor alluded that there are situations where members lose their life savings through bad governance in cooperatives.

He urged national and county governments not rush to dissolve cooperatives and send receiver managers adding that receiver managers don’t have the members at heart but to enrich themselves, they don’t have any pain with the lose the members will undergo and suffer when they lose all their savings.

Mandago hinted a case on Moi University Sacco cooperative society where, members are likely to lose their savings because of carelessness, negligence and non-responsiveness from the office of the commissioner of cooperatives in the national government and personal interest from the receiver managers who are just there to enrich themselves from the members’ savings.

The governor lauded the tier one Saccos that have continued to empower members through several products and services listing Boresha, noble and Imarisha saccos.

Boresha and Imarisha saccos have created Mzinga Junior and Parrot accounts respectively where parents can save for their children under eighteen years of age.

“This is a way where the young generation is taught on savings culture so that when they grow up they will spend according to their reach,” noted the governor.

He called on the people of Uasin Gishu to embrace the savings culture as that is the only way people will have strengthened the culture of savings that leads to culture of contentment.