President William Ruto has launched Shirikiana Sacco at Masinde Muliro University, describing it as a transformative cooperative initiative.

📻 Breaking It Down

NAIROBI, Kenya, Jun 13 – President William Ruto has launched Shirikiana Sacco, a new cooperative financial institution aimed at expanding access to savings, affordable credit and investment opportunities, in what he described as a landmark initiative set to transform economic fortunes across Western Kenya and beyond.

The launch, held at Masinde Muliro University of Science and Technology and attended by senior leaders from the Western Kenya region, was framed by the President as part of the government’s broader push to strengthen the cooperative movement as a driver of grassroots economic empowerment.

Ruto praised Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya for what he termed the revitalisation of the ministry and the expansion of financial inclusion programmes targeting ordinary Kenyans, noting the growth of the Hustler Fund to Sh90 billion.

📌 What You Need to Know

“I want to thank our minister Wycliffe Oparanya for his work empowering MSMEs. He has taken this ministry to the next level. The Hustler Fund is now at Sh90 billion and has reached citizens across the country,” Ruto said.

He also highlighted Oparanya’s growing continental role in the cooperative sector, saying he currently chairs Africa’s cooperative movement and has represented both Kenya and the continent internationally.

The President said the creation of Shirikiana Sacco was not merely the establishment of another financial institution but the beginning of a people-driven economic movement anchored on collective savings and investment.

“We have not gathered here merely to set up another financial institution. We are here to witness the birth of a genuine people-owned economic opportunity,” he said.

According to Ruto, the Sacco will enable citizens to pool resources, access affordable credit, establish enterprises and build sustainable wealth for families, aligning with the government’s Bottom-Up Economic Transformation Agenda.

He said the cooperative model remains central to Kenya’s development strategy, arguing that economic strength lies in the collective power of ordinary citizens rather than individual wealth accumulation.

📰 Source: Capital FM Kenya