Interior Cabinet Secretary Dr. Fred Matiangi has said arrests of errant Sacco officials will soon start as investigations into their conduct are almost complete.
Speaking during the Kenya Police Sacco Annual General Meeting, Matiangi called for accountability in Sacco operations noting that cooperative societies play a key role in the development of the country’s financial sector.
In the recent past, some Saccos have been facing management and operational challenges due to malpractices by those in leadership positions, putting members’ savings at risk.
However, CS Dr. Matiang’i says soon arrests will be made on directors and Sacco officials mismanaging or looting Saccos.
He urged Saccos to consider participating in the government’s privatization programme as a way of diversifying their products and increasing their asset base.
Kenyans were encouraged to join cooperative societies. In 2018, the Kenya Police Service asset base grew by 19.4 percent to 28.9 billion shillings with deposits standing at 17 billion shillings.