Marube: Sacco deposits belong to members, not government
Cooperative Alliance of Kenya CEO Daniel Marube has dismissed public fears that the government intends to seize Sacco savings to fund infrastructure projects. He clarified that the proposed Cooperatives and Sacco Societies amendment bills are intended to modernize the sector rather than grant the state control over member assets.
Why it matters
Saccos are vital to Kenya's economy, and public anxiety regarding government overreach could destabilize the financial security of millions of citizens.
Cooperative Alliance of Kenya CEO Daniel Marube / HANDOUT With more than 14 million cooperative members, including about eight million Sacco members, Kenya’s cooperative and Savings and Credit Cooperative Organisations (Sacco) sectors are a cornerstone of the national economy, contributing roughly 10 per cent to 30 per cent of the GDP.
The article presents a direct rebuttal to public misinformation by citing an industry official, maintaining a neutral, informative tone.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in