Co-operative Societies are expected to play a significant role in the new government.
Dr William Ruto’s bottom-up economic model targets to promote investments in ordinary Kenyans such as unemployed, hustler enterprises, farmer groups and fishermen and empower them financially.
The model is anchored on six core pillars, namely: Agriculture; Micro, Small and Medium Enterprise (MSME) economy; Housing and Settlement; Healthcare; Digital superhighway and creative economy; Environment and climate change.
“Cooperative and Saccos movements are vehicles of empowerment, which enable members to grow savings and take out loans to enhance their businesses. They advance members’ welfare; foster self-reliance and support the Government’s development goals,” Dr Ruto has said in the past.
Co-operatives being at the bottom of the financial sector are well positioned to offer financial services to the target groups in the bottom-up economic model. This includes the distribution of the Ksh 50 billion hustler funds.
Well-organized groups and co-operatives members are likely to benefit more from funds through Savings and Credit Co-operative Societies (Saccos).
