Senate Committee on Trade, Industrialization and Tourism held a meeting today to consider Ministerial Responses on Statements requested by Sen. David Wakoli and Sen. Prof. Tom Ojienda, SC.

The Bungoma County Senator had requested to know the management structure of the Metropolitan National Sacco Ltd, listing all branches of the Sacco in the country; details of officials of the Sacco at national level; and when the Annual General Meeting of the Sacco was last held tabling the minutes of the meeting. 

He had further requested the Committee to cause an Audit of the conduct of business, including books of accounts, at the Sacco by the Sacco Societies Regulatory Authority (SASRA) in light of the alleged irregularities reported by members of the Sacco in Bungoma County and table before the Senate, the resultant report; as well as recommend actions to be taken to assure members of the Sacco that their funds are safe.

The response received from the Ministry of Cooperatives and Micro, Small and Medium Enterprises (MSMEs) on the above matter was found to be unsatisfactory by Sen. David Wakoli and Committee members as there is clearly a gap in the representation of the Sacco as most of the Sacco National Officials come from one region denying members from Bungoma and the other regions an opportunity to participate in the Sacco decision making process. In addition, since all the AGM meetings are held in Kiambu, members from Bungoma are not able to attend hence they do not own the AGM Resolutions. 

The Committee resolved to hold a sitting in Bungoma with Sacco members from the said region, the Sacco leadership and relevant stakeholders from the Ministry in order to resolve the raised issues. 

On the other hand, Kisumu County Sen. Prof. Tom Ojienda, SC had requested to know the state of Financial Inclusion Fund nationally and its impact on the residents of Kisumu County. The CS for Cooperatives and Micro, Small and Medium Enterprises (MSMEs) provided the Committee with a detailed report on the amount of funds allocated to the Financial Inclusion Fund popularly known as Hustler Fund since its establishment, against the loans disbursed, savings deducted, repayments and defaults, disclosing profits or losses incurred if any. 

The Cabinet Secretary also stated the number of loans to individuals nationwide, stating the geographical location and status of loan repayment as well as data on beneficiaries of the fund in Kisumu County, the amounts borrowed, nature of use, savings deducted and repayment status. Lastly CS Chelugui addressed concerns about the sustainability of the Hustler Fund, considering the current state of the Kenyan economy, and proposed remedies. 

Sen. Prof. Tom Ojienda, SC reported to the Committee that he was fully satisfied with the response submitted by the Ministry hence the Committee concluded this matter. 

Today's meeting was hybrid hence Sen. Andrew Omtatah - the interim Chairperson, Sen. Dr. Lelegwe Ltumbesi and Sen. David Wakoli were physically present in the meeting while Sen. Lenku Ole Kanar Seki, Sen. Crystal Asige and Sen. Prof. Tom Ojienda, SC joined the meeting online.