The Ministry of Co-operatives, Micro, Small and Medium Enterprises Development has noted with concern a misleading news report aired on NTV Prime news on Saturday July 4, 2026, 9pm in which the bulletin falsely suggested that the Government intends to use over Sh1 trillion in SACCO deposits to finance mega public infrastructure projects.
According to the government, this report is inaccurate and has the potential to create unnecessary anxiety among millions of Kenyans who depend on SACCOs for inclusion and economic empowerment.
For the avoidance of doubt, the government has stressed that SACCO funds remain the property of the respective SACCOs and are managed exclusively by the elected officials.
Addressing a media briefing in Nairobi, the Principal Secretary (PS) for Co-operatives Patrick Kilema maintained that the government has no access to, and does not intend to utilize member deposits held in SACCOs since Co-operatives are autonomous, member owned institutions, and their funds are strictly used to provide affordable credit and other financial services to their members.
“During Ushirika Day celebrations on July 4, 2026 the Deputy President Kithure Kindiki informed the cooperators that the National Infrastructure Fund had secured seed capital of Sh345 billion from the proceeds of sale of the Kenya Pipeline Company and Safaricom shares,” the PS reported.
The Fund, he emphasized, aims to create fiscal space in the national budget by financing selected infrastructure projects, thereby freeing up resources to support priority sectors, including the cooperative movement.
Kilema therefore reiterated that at no point did the Government propose using SACCO deposits for this purpose.
“We urge media houses to exercise due diligence and professionalism when reporting on matters affecting the cooperative sector, which plays a critical role in Kenya’s socio-economic development,” he asserted, demanding the Nation Media Group to retract, apologize and issue a corrective statement in the manner commensurate to how offensive statement was issued.
By Michael Omondi
