The National Assembly’s Departmental Committee on Trade, Industry, and Cooperatives has pledged full support to the newly appointed team tasked with modernizing the Savings and Credit Cooperative Organizations (SACCOs) sector in Kenya.
Ikolomani MP Benard Shinali, who chairs the committee, made the assurance during a meeting with the Committee of Experts reviewing the Sacco Societies Act, 2008.
“As a committee, you can count on our full and unequivocal support. Our number one priority is to work with you to sanitize the robust cooperatives sector, which has faced serious challenges in the recent past,” said Shinali.
“We will work together to deliver a new legal framework that will streamline this vital industry for our country’s economy.”
The five-member team was appointed on May 21, 2025, by Co-operatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya, following revelations of massive financial irregularities within the Kenya Union of Savings and Credit Co-operatives Ltd (KUSCCO).
Led by Chairperson Marlene Shiels, CEO of Capital Credit Union in Scotland, the experts appeared before the committee to update lawmakers on their work.
“We were convened on May 21, 2025, and given three months to complete the review. We have until September to submit the first draft of our report to the CS,” said Ms. Shiels.
She added, “We are aware that time is of the essence, and we are committed to working within your timelines. We want to work closely with you to ensure this legislation meets expectations.”
Other members of the team include Maurice Smith of the African American Credit Union Coalition (AACUC), who is also a member of the US Supreme Court.