The government is undertaking “drastic reforms” in co-operative development segment to strengthen its ability to tap emerging business opportunities. Co-operatives development PS Noor Ismail (pictured) says the government has started review of co-operative policy, law and regulations to create a conducive environment for the Savings and Credit Co-operative societies to thrive. Noting that the cooperative movement functions were devolved, Noor stressed that the new changes will equally help enhance the initiatives being pursued by the 47 counties to promote growth and development of the Saccos. Formulation of the national co-operative development policy is at an advance stage, he added. “The policy will provide an overarching framework that will provide direction on the growth and development of the movement in regard to the respective roles of the two levels of government under the constitution as well as addressing the emerging issues in the ever changing business environment,” Noor said.

Source: The Star May 01, 2017 21:11 UTC