THE ROLE OF COOPERATIVES IN SHAPING UP OUR ECONOMY

 Introduction

According to NIC, a cooperative society refers to a voluntary association of individuals having common needs who join hands for the achievement of common economic interest. Most cooperative societies offer their products to their members and others don't serve non-members.

Classifications of cooperatives

  • Agricultural Marketing Societies.
  • Consumer cooperatives.
  • Savings and credit cooperative.
  • The processing cooperative.
  • Transport cooperative.
  • The insurance cooperative.
  • Housing cooperative.
Contributions of cooperatives to our GDP

Cooperatives contribute significant amount to our GDP. According to SID, cooperatives contribute approximately 45% of our GDP and 31% of national savings and deposits. They also create and maintain employment. It is estimated that globally, cooperatives have employed more than 100 million people. In Kenya more than 250,000 people have been employed by cooperatives.

Efforts made to improve cooperatives in Bomet.

The County Government of Bomet has embarked on a serious campaign to ensure that cooperatives are operational and keep running. Members have been trained on various issues. In addition, officials of various cooperatives have been educated on leadership and management.  

Further, The county Government of Bomet has extended credit facilitation to various cooperatives to keep them running. This has led to great improvement in the cooperative sector. Also, various trips have been organized for farmers for them to go and learn from successful agricultural cooperatives. 

  

Governor Dr. Hillary Barchok when he launched Equipments for Chebunyo cooperative.


Lelaitich Cooperative Society.




Comments

Post a Comment

Popular posts from this blog

CELEBRATED KENYA'S FINANCE MINISTERS(CSs)

Image
         Treasury is one of the critical organs in any government. Besides being responsible for managing governments finances, it also formulate ways of collecting revenue and invest in short term surpluses and arrange lenders to cover short-term cash shortages. This blog aims at looking at successes of various Finance Ministers who were mandated to run this critical sector.  1.James Gichuru 1963-1969 He was Kenya's first Finance Minister under Mzee Jomo Kenyatta's government. He undertook expansionary fiscal and monetary policy.  James Gichuru. 2. Mwai Kibaki(1969-1981) He was the second Kenya's Finance Minister. He served during both the time of Mzee Jomo Kenyatta and Daniel Moi. He was the longest serving Finance Minister. As president our economy grew significantly and there was little foreign aid. He moved Income Finance Bill 1973 where couples married at the commencement of the year earned a tax relief Mwai Kibaki. 3.Arthur Magugu(1981-1988) He ...
Read more

DUNCAN NDEGWA, THE MAN WHO HELD CENTRAL BANK FOR LONG.

Image
 In my blog, The Funny Side of James Gichuru as Finance Minister, the name Duncan Ndegwa featured. So who was Duncan Ndegwa? Duncan Ndegwa was the first head of civil service in independent Kenya. He was born in 1925. In history of Central Bank, he was the longest serving CBK Governor. He served from 1967 to 1982. He was the second CBK Governor after Leo Baranski. He retired in 1982 aged 55.  Duncan Ndegwa's Education Background Duncan Ndegwa started his early education in Ngagarithi Primary School and went to Kagumo High School in 1941. He then went to Alliance High School for his ''O'' level in 1944. In 1947, he was appointed the school captain and was a member of the 1st Hockey X1 team. He joined Makerere and completed with a Diploma in Education where he earned a triple "A". In 1952, through government's sponsorship program, he joined  St.. Andrews University where he graduated with with a Master of Arts(Hons) in Economics and History in 1956.  Dun...
Read more