16.9 C
Nairobi
Tuesday, November 5, 2024
16.9 C
Nairobi
Tuesday, November 5, 2024

Government Approves Cooperatives Bill to Reinvigorate Growth and Development of MSMEs

The Kenyan Government is determined to create an environment that supports the growth and development of the country’s cooperative sector, which is a significant source of financing for Micro, Small, and Medium Enterprises (MSMEs). Cabinet Secretary Simon Chelugui of Cooperatives and MSMEs has announced that the Ministry is committed to implementing Sessional Paper No. 4 of 2020 on National Cooperative Policy, with the theme “Promoting Cooperatives for Socio-Economic Transformation.” This policy aims to create an enabling environment for cooperatives to thrive and contribute to the country’s socio-economic development.

To complement this policy, the Government has approved the Cooperatives Bill and forwarded it to the Attorney General for submission to Parliament. The bill seeks to establish the Office of the Commissioner for Cooperative Development at the national level of Government and the Office of the County Director for Cooperatives in each county government. The Commissioner’s office will promote, register, and regulate cooperatives while providing inter-governmental cooperative relations.

Furthermore, the bill aims to establish a legal framework that promotes a competitive and sustainable cooperative sector for socio-economic development within Kenya’s devolved system of Government. This framework will establish uniform norms and standards for cooperatives’ registration, regulation, supervision, and management and provide a framework for consultation and cooperation among counties.

Chelugui highlighted that the Coffee Bill, 2023, and Coffee Policy have been presented to joint Senate and National Assembly Departmental Committees and have incorporated their input. The bill aims to reinstate the Coffee Board of Kenya and the Coffee Research Institute as stand-alone institutions, stimulating the growth and development of the coffee sub-sector, specifically in research and market access.

Chelugui also praised the cooperative leaders for organizing the annual Cooperative Leaders Consultative Conference. The conference provides an opportunity for policymakers, experts, and representatives from various sub-sectors to come together to assess sector performance, share insights, and catalyze positive change within the sector. This is a positive move for the country’s crucial cooperative sector, and the Government is committed to supporting its growth and development.

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