🔥The 9th Round of Easy Loan, Earn $40 Reward is in progress❗️ ⏰ Promotion Period: January 15th - Feburary 15th, 2025 👉 Register now and check more details at gate.io/campaigns/358

8/ First, legal and regulatory reform through the appointment and inauguration of a five-member Committee of Experts in the month of May to comprehensively review the SACCO Societies Act, 2008, align it with emerging global standards, and enhance institutional accountability.

9/ Third, producer cooperative governance, particularly the revival and professionalization of agricultural coffee cooperatives, aimed at restoring good governance, empowering farmers through accountable institutions, and ensuring they receive their rightful value. Let me

10/ As cooperatives continue providing affordable credit, responsible debt management and sustainable lending are crucial. The Government is committed to facilitating access to favorable credit while building cooperatives’ capacity to manage debt effectively. A key reform is the

11/ Effective risk management is crucial for the continued success of cooperatives. The Government is dedicated to equipping cooperatives with the tools and knowledge to manage both financial and operational risks. We are also exploring partnerships with financial technology

12/ The Government remains fully committed to supporting the cooperative sector. Through a comprehensive policy framework, we are creating an environment where cooperatives can thrive, innovate, and contribute significantly to our economy. Our reforms focus on improving

13/ We, however, remain confident that the decline in ethical leadership and governance is reversible. The remedy lies in our collective will to recommit ourselves to the founding principles of the cooperative movement—transparency, accountability, and service to the public good.

14/ Ethical leadership is not measured by rank or title. It is demonstrated through moral courage, especially when no one is watching. It calls for principled decision-making, for placing the interests of members at the heart of all policy decisions, and for rejecting practices

15/ As leaders entrusted with the stewardship of public resources, we must remind ourselves that our actions today will determine whether future generations inherit stronger institutions or broken systems. The question we must each reflect on is this: Will we be remembered as the

16/ Strong governance is the foundation of institutional resilience and public trust. I call on all cooperative leaders to embrace internationally recognized practices such as member-led oversight, mandatory independent audits, and transparent reporting. Boards and management

17/ This forum must be more than just an event. It must ignite a sustained movement for ethical reform, policy coherence, and leadership accountability. I call on all of you to return to your communities with renewed purpose. Begin by assessing the governance structures in your

18/ As part of our ongoing efforts to strengthen governance, transparency, and accountability within the cooperative sector, I wish to bring to your attention two critical directives aimed at ensuring compliance and enhancing institutional efficiency among our cooperative

19/ First, let me address the matter of annual returns. The Cooperative Societies Act stipulates that all cooperative societies are required to file their annual returns in the prescribed manner and within the specified timeframe. Unfortunately, we have observed a growing number

20/ In response to this concern, and in exercise of the powers granted to me under Section 93A(d) of the Cooperative Societies Act and Rule 14 of the Cooperative Societies Rules, I hereby direct all cooperative societies, including unions, national cooperative organizations, and

21/ These returns must include a duly approved copy of the audited financial statements for the year in question, as well as updated details of all elected officials and the Chief Executive Officer—specifically their full names, physical addresses, telephone numbers, and email

22/ Let me be clear: any cooperative society that has failed to file its returns for the last three years and within the stipulated timelines will be struck off from the Cooperative Register and will cease to exist as a corporate entity. This directive takes immediate effect, and

23/ However, in practice, we have seen that for societies with more than 10,000 members, especially those with broad geographic coverage, it is neither practical nor efficient to hold general meetings with every member physically present. This has often led to disorganized

24/ Under this system, no more than 500 delegates shall be selected to represent the broader membership at general meetings. This representation must be fair and inclusive, taking into account geographical distribution, gender balance, age diversity, and the inclusion of persons

25/ In conclusion, I am reminded of the words of R  obert Owen, a pioneer of cooperative thought, who said: “Character is formed by the choices we make.” Today, we are presented with a choice. We must choose integrity over indulgence. We must choose service over personal status.

26/ I reaffirm the Government's unwavering support and commitment for the cooperative sector. The future of cooperatives lies in our collective ability to work together, share resources, and innovate. Let us embrace the opportunities before us, uphold the highest standards of

Eid Al-Adha Mubarak #EidAlAdha