Cooperatives Cabinet Secretary Wycliffe Oparanya has challenged Shirikiana Sacco to expand beyond Western Kenya and establish a nationwide membership base to increase savings and access to affordable credit.
Oparanya said a larger membership would enable the Sacco to mobilise substantial funds through small, regular contributions and provide members with loans to invest in businesses.
“I wanted to start a big Sacco here in Western Kenya, but this Sacco will not only be here in Western Kenya. It will be for the whole of Kenya,” he said during a meeting with members at Sibanga in Trans Nzoia County.
He said the cooperative model could help Kenyans who struggle to obtain bank loans because they lack collateral.
“Many of you do not have title deeds for your farms. So how will you get a loan?” he asked.
Oparanya said 100,000 members saving Sh100 each day could raise about Sh300 million a month.
He urged members to save consistently before borrowing, saying the Sacco could build a substantial loan fund as membership and savings grow.
The CS also urged small businesses to take advantage of government support, including financing through Kenya Industrial Estates, where he said entrepreneurs could access loans of up to Sh20 million.
He said the government was also providing traders with better working spaces through markets equipped with facilities such as internet connectivity and storage.
Oparanya called on entrepreneurs to embrace technology, saying digital platforms had made it easier to access financial services and conduct business.
He cited the Hustler Fund, which requires applicants to use digital platforms, as an example of how technology is changing access to government services.
“Capital is key,” Oparanya said, stressing the importance of affordable financing for micro, small and medium enterprises.
He also urged cooperative members to understand their rights and responsibilities through regular training and financial education.
“One of the principles of cooperatives is training of members, members’ education. You should know what your rights as a member are,” he said.
Oparanya said Shirikiana Sacco could also help members deal with financial shocks, including medical expenses that force some families to sell property or borrow heavily to meet treatment costs.
He said the cooperative movement should focus on practical interventions that improve members’ economic security.
Oparanya maintained that his remarks were not political, saying his focus was on initiatives that could improve the lives of Sacco members.
“I have come here not for politics. I am saying things as they are. When it is time for politics, I will come back to talk about politics,” he said.
He urged Shirikiana members to grow the Sacco into a strong national cooperative by increasing membership and savings.
