Mombasa– The First Annual General Meeting and official launch of the Ketsa Secondary Co-operative Ltd (Kenya Teachers Sacco Association Cooperative Ltd (KESECO) took place recently, presided over by Patrick Kilemi, the Cooperatives Principal Secretary.
During his address, PS Kilemi emphasized the government’s commitment to reforming the cooperative sector, highlighting the Cooperatives Bill 2024, which aims to create a robust legal framework to promote a competitive and sustainable cooperative environment within Kenya’s devolved governance system.
“SACCOs have significantly contributed to our Bottom-Up Economic Transformation Agenda, with total savings surpassing Kshs. 1.2 trillion, assets amounting to Kshs. 1.7 trillion, and a loan portfolio exceeding Kshs. 1 trillion,” Kilemi stated, illustrating the vital role of cooperatives in economic development.
KETSA manages assets valued at over Ksh. 200 billion, providing its members with access to affordable loans and a variety of investment opportunities. This initiative is set to enhance financial empowerment among its members and strengthen the cooperative movement in the region.
The launch signifies a pivotal step towards fostering community-centric financial solutions and sustainable growth in Kenya’s cooperative sector.
