Future of cooperatives in Kenya: strengthening and streamlining for growth
Cooperative societies in Kenya are poised for a transformative future, with strategic initiatives aimed at bolstering their resilience and effectiveness in various sectors.
As the country looks ahead to harnessing the potential of cooperatives in emerging investment areas such as energy, health, and ICT, key focus areas have been identified to ensure their sustained growth and impact.
One of the fundamental pillars of this vision is the promotion of cooperatives in these burgeoning sectors, providing opportunities for diversification and expansion beyond traditional domains.
By encouraging cooperatives to explore mutual partnerships with other development agencies, additional resources can be leveraged to fuel innovation and growth.
Moreover, there is a pressing need to address internal challenges within the cooperative movement, particularly in conflict resolution and cybersecurity.
Rising cases of cyber-fraud resulting in the loss of members’ contributions underscore the importance of robust shared platforms and enhanced security measures to safeguard against such threats.
To strengthen the regulatory framework and promote self-regulation within the sector, it is imperative to build the capacity of national apex cooperative bodies.
By empowering these organizations with the necessary tools and resources, they can effectively oversee and govern cooperative activities, reducing reliance on external regulatory interventions.
Further, aligning with global agendas such as the UN and AU’s Agenda 2063 emphasizes the role of cooperatives in driving sustainable development and creating quality employment opportunities.
This requires proactive engagement from both cooperative entities and government authorities to ensure alignment with broader development objectives.
While governments have historically played a significant role in the establishment of cooperative sectors, there is a growing recognition of the need for self-regulation and autonomy.
By demobilizing and facilitating self-regulation, governments can empower cooperatives to drive their own growth and development agendas.
Enhancing knowledge management within the cooperative sector through continuous research and data management is crucial for informed decision-making and strategic planning.
By investing in research initiatives and data-driven insights, cooperatives can adapt to evolving market dynamics and capitalize on emerging opportunities.
Author: Andrew Walyaula
Andrew Walyaula is a seasoned multimedia journalist. waliaulaandrew0@gmail.com
