Technology

Kenya: Cooperatives Urged to Embrace Innovation to Remain Visible


Nairobi — Cabinet Secretary for cooperatives and macro small and medium development Simon Chelugui has challenged Sacco cooperatives across the country to embrace innovations and technology to help increase their accessibility and visibility.

Chelugui said harnessing the power of technology and innovation to deliver the cooperative value proposition is a game changer for cooperatives.

“Technology and innovation will power growth and create new opportunities in the business environment in the cooperative,” he said.

He tipped cooperatives to ensure they choose the adoption of appropriate technology that will ensure they reap maximum benefits.

The CS said cooperatives must ensure they choose technology that will simplify cash and other financial service delivery to their customers besides reducing risks and fraud while enhancing cyber security.

“They should create a new ecosystem to deliver tech-driven financial services since these benefits will create synergy and deliver the cooperative value proposition,” he said.

In a speech delivered on his behalf by John Mwingala, the Director Cooperatives, during the opening of Afresa Sacco offices in Kisumu, the CS challenged cooperative leaders to prioritize innovation at corporate strategy level with a view to creating a win-win situation for the members.

The CS opined that the adoption of innovation and development of new cooperative ecosystems will greatly help cooperatives to increase efficiency and lower operational costs.