Housing co-operative societies should be managed better and at the same time offer treats to members who own and drive the cooperative housing societies.
Kiambu County Kiambu County Director of Co-operatives, Peter Ndegwa, says only improved management of assets, liabities and capital of the societies will see them position themselves strategically so as to take advantage of the governments Big Four agenda on Housing.
“Following a difficult last year brought about by politics during the electioneering period, many organisations were not lucky to last because of the financial constrains,” he added.
Ndegwa said a key pillar for suitable growth and stability is good governance; this means how the society is managed and controlled. “The central theme is that the member is supreme and is the reason the society exists,” he said.
He said the Ministry of Industry, Trade and Cooperatives will be enhancing compliance surveillance to minimise leadership wrangles and ensure good governance that is transparent and accountable to members of all cooperatives. “The conversion rates should been enhanced for members to realise value,” he said.
The director of cooperatives was speaking during the Urithi Housing Co-operative Society Limited’s seventh annual general meeting held at Hilltop Resort at Lanet, Nakuru County. He commended Urithi for weathering the political and economic storms created by last year’s elections.
“It is worth noting that within seven years, you have registered tremendous growth in key parameters. During the period, you have been able to grow membership to over 26,500, current assets have grown to Ksh3.7 billion, while current liabilities have grown to KSh3 billion,” he said.
“It is commendable to see that you are managing the cooperative’s expenses well, especially financial and administrative expenses,” he added.
Ndegwa asked Urithi directors led by their chairman, Samuel Maina, to keep the available cash at good levels so as to strategically position the cooperative to take advantage of emerging opportunities in the industry and in the economy at large. “This way you will be able to build up reserves and disburse higher dividend shares to your honourable members,” he added.
He said the fact that Urithi Housing has handed over 500 houses, sold 3,000 parcels of land and issued over 6,500 title deeds has not gone unnoticed by both the national and local governments.
“As a county, we promise to work together especially on key areas of approvals, infrastructure and provision of amenities. “We therefore intend to hold sectorial meetings with leaders of societies in the key sectors of coffee, tea, dairy, pyrethrum, real estate to identify ways of improving our societies, in-order to ensure growth and put money in the members’ pockets,” he said.