Africa-Press – Kenya. Cooperatives Cabinet Secretary Wycliffe Oparanya has called for a rview of Savings and Credit Cooperative Organisations (SACCO) regulations to strengthen governance, innovation, and sustainability across the country.
Speaking while opening the Kenya Union of Savings and Credit Cooperatives (KUSCCO) 11th Annual SACCO Leaders’ Convention in Mombasa, the CS emphasised the urgent need for reforms that will position SACCOs to thrive in an increasingly dynamic financial environment.
Oparanya urged SACCO leaders to adopt clear long-term strategies ranging from five to 20 years, noting that strategic planning is essential for sustainable growth and competitiveness.
“The is the need for SACCOs to adopt a clear five-year to 20-year strategic plan to ensure long-term growth, financial stability, and competitiveness in the evolving financial landscape,” he stated.
According to the CS, a structured and forward-looking approach will help SACCOs manage risks, embrace innovation, and remain resilient amid shifting market forces and regulatory changes.
He further underscored the importance of youth inclusion within the cooperative movement, calling on SACCOs to deliberately involve young people aged between 18 and 35 years.
Oparanya observed that empowering young members would inject fresh ideas and accelerate digital transformation within the sector.
“Empowering young members will inject fresh ideas, digital innovation, and ensure continuity in leadership.”
Additionally, the CS proposed the development of a standardised curriculum in partnership with The Co-operative University of Kenya to harmonise training and governance standards across SACCOs nationwide.
“The curriculum will guide member education, leadership training, and governance standards, ensuring that all SACCO members across the country receive structured and uniform cooperative education,” he explained.
Speaking on the sidelines of the convention, Fintech Group Head of Business Development and Marketing Hassan Issa welcomed the proposed reforms, saying the company is keen to align its technology solutions with government policy direction.
“The CS talked about reviewing structures and policies and ensuring capacity is built around sacco leaders and government officials. This in turn translates to what we can do as technology firm,” Issa said.
Fintech Group Head of Business Development and Marketing Hassan Issa, Cooperatives Cabinet Secretary Wycliffe Oparanya and Fintech Group General Manager Vincent Carolius Ondiff at the opening the Kenya Union of Savings and Credit Cooperatives (KUSCCO) 11th Annual SACCO Leaders’ Convention in Mombasa/HANDOUTIssa added that the firm is closely monitoring policy interventions to better understand governance challenges and regulatory gaps within SACCOs.
“We believe in data driven decision making, the world is turning and we should turn with the world in terms of intelligence driven solutions,” he said.
“Beyond data, there are other aspects that can be dynamic, shifting every other moment with changes in policies and other factors in market. That is data that can be used to inform government, saccos and members in terms of what direction to take.”
He expressed optimism that technology providers would play a central role in supporting the reforms.
Issa also echoed the CS’s remarks on youth involvement, noting that young people are naturally aligned with emerging technologies.
“Tech is always changing with new ideas that the youth will bring with their inclusion in saccos. They are the ones who are growing with the technology. We can be able to deliver a technology faster and efficiently with the knowledge they already have.”
Fintech Group provides solutions aimed at bridging the gap between technology and the financial services industry, serving financial institutions, SACCOs, and banks across Africa.
