Kindiki: New Cooperatives Bill to be law within a month as reforms gather pace

The government is fast-tracking the passage and enactment of the new Cooperatives Bill to modernise the sector and make it more beneficial to millions of members of cooperative societies across the country, Deputy President Kithure Kindiki has said.

Prof. Kindiki said President William Ruto is expected to sign the Bill into law within a month, paving the way for an overhaul of the sector aimed at improving transparency, efficiency and digital integration.

"Within a month, the Bill will be signed into law by the President so that we can modernise this sector, improve transparency and governance as well as make it digitally conversant," the DP said.

Speaking on Saturday during the 104th Ushirika Day celebrations at Uhuru Park in Nairobi, Prof. Kindiki said the Kenya Kwanza administration has placed cooperatives at the centre of its development agenda, hence the accelerated reforms.

He said the creation of a standalone Ministry of Co-operatives and MSMEs demonstrates the government's commitment to the sector.

"The Cooperatives Bill currently before Parliament, alongside the ongoing SACCO reforms, will reinforce public confidence by promoting sound governance and protecting the savings of the more than eight million Kenyans who have entrusted SACCOs with deposits exceeding KSh1 trillion," he added.

While underscoring the role cooperatives play in improving livelihoods, particularly at the grassroots, the Deputy President said there is a need for a modern legal and regulatory framework that enables cooperative societies to grow, compete and deliver greater value to their members.

"Our goal is to build cooperative institutions that are transparent, financially sound, professionally managed and resilient enough to drive inclusive economic growth and support the successful implementation of the Bottom-Up Economic Transformation Agenda," he said.

Prof. Kindiki noted that through various cooperative entities, farmers have improved production and secured better markets, workers have mobilised savings and accessed affordable credit, while families have educated their children, built homes and established businesses.

He also called for greater inclusion of young people and women in cooperative societies and their leadership to ensure the movement remains strong and responsive to emerging needs.

"We must encourage the youth to keep this tradition of joining the cooperative movement to be able to succeed in business and other ventures," he said.

With the government accelerating the implementation of its flagship projects, Prof. Kindiki said cooperatives are well positioned to support increased agricultural productivity, strengthen micro, small and medium enterprises, expand affordable housing, support universal health coverage and advance the digital economy.

"They also remain one of the most practical pathways for addressing youth unemployment by enabling young people to organise themselves, mobilise capital, establish enterprises and become creators of jobs rather than seekers of jobs," he said.

Prof. Kindiki commended the Ministry of Co-operatives for its role in streamlining and advancing the sector, adding that he would push for increased budgetary allocation to enhance its performance and double cooperative membership from the current 14 million.

"We thank the members of SACCOs for developing a savings and productivity culture and taking part in national development. I look forward to greater development in our country with the cooperatives sector playing a bigger role," the DP said.