A survey of corporate governance practices by Savings and Credit Co-operative Societies in Kakamega municipality
Abstract
There is limited published research on corporate governance practice by SACCOs in
Kenya. Most SACCOS in Kenya have suffered loss due to poor management, nepotism
and embezzlement of funds.
The role of cooperative societies in the economy need not be overemphasized.
Cooperative societies are important vehicles for economic growth and development
globally. National economies have benefited from well-governed cooperatives. The
converse is true. Good corporate governance in cooperatives would lead to the realization
of objectives of the cooperative movement, which is creation of wealth for sustained
economic growth and development.
However, despite the great potential of cooperative societies as agents for national
development in the country, they have performed poorly. This poor performance is
attributed in a nutshell, to poor corporate governance practices by the management
committees or other bodies entrusted with the responsibility of governing the cooperative
societies. There is therefore need to get the cooperative sector back to sustainable
prosperity.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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