George Mimba, Chairman of Balozi Sacco during the interview
By News Desk
George Mimba, Chairman of Balozi Sacco, has applauded the recommendations by the Committee of Experts appointed by the Cabinet Secretary for Cooperatives and MSMEs, Wycliffe Oparanya, terming the proposed reforms a transformative blueprint for the Sacco sector.
Speaking during the Annual Saccos Leaders Convention held in Mombasa, Mimba joined other Sacco leaders in endorsing the comprehensive reform agenda aimed at strengthening governance within KUSCCO and the wider Sacco fraternity.
He noted that the recommendations presented to the Cabinet Secretary emphasize accountability, enhanced member education, sound financial management, and sector-wide transparency.
“These recommendations will serve as a guiding blueprint for all Saccos across the country. Accountability and prudent management must be the foundation of our movement if we are to restore confidence and safeguard members’ savings,” Mimba said.
The Balozi Sacco Chairman further backed the Cabinet Secretary’s proposal to establish a funding portal to support smaller Saccos, especially in areas of liquidity management and resource-sharing. He described the move as timely and critical in leveling the playing field within the cooperative ecosystem.
According to Mimba, smaller Saccos often face challenges accessing affordable financial support, and the proposed portal will enhance stability, growth, and inclusivity in the sector.
The Annual Saccos Leaders Convention brought together Sacco CEOs, board members, regulators, and cooperative stakeholders to deliberate on pressing issues affecting the movement. Key themes discussed included governance reforms, innovation, digitization, and strategies to attract and retain youth in the Sacco sector.Mimba emphasized that innovation and youth-focused financial products will be essential in sustaining the cooperative model.
“We must modernize, digitize, and create products that resonate with young people. The future of the Sacco movement depends on how well we integrate youth and technology into our operations,” he added.
The convention concluded with a renewed commitment from sector leaders to embrace reforms, strengthen oversight mechanisms, and position Saccos as pillars of economic empowerment in Kenya.
