Senators have endorsed a Bill seeking to streamline the operations of savings and credit cooperative societies (Saccos) and tame rogue officials. The proposed las amends the Co-operative Societies Act No. Currently, there are about 23 registered cooperative societies, with a membership of 14 million. “ That Clause brings order in the entire registration regime of our co-operative societies,” he added. This will go a long way in ensuring that those cooperative societies that are not well managed or do not meet the requirements will not be registered.”

Source: The Star February 21, 2021 18:00 UTC