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Ruto: My administration will pursue recovery of misappropriated funds
12th July, 2025 11:27 AM
President William Ruto has vowed that his administration will aggressively pursue the recovery of misappropriated public funds and hold accountable those responsible, in line with the law.
In his speech read by Prime Cabinet Secretary Musalia Mudavadi during the 103rd Ushirika Day Celebrations at the Kenyatta International Convention and Conference Centre (KICC) on Saturday, July 12, 2025, Ruto emphasised his government’s commitment to restoring integrity and public trust in the cooperatives sector, which has for years been marred by mismanagement and corruption.
“Let me be clear, my administration will pursue the recovery of misappropriated funds and hold to account those found culpable in full accordance with the law,” he said.
“We are resolute in our determination to restore integrity, trust, and dignity in the cooperative sector,” he added.
Further, Ruto revealed that the government has established a high-level committee of experts, both local and international, to undertake a comprehensive review of the legal framework to revamp the cooperative sector.
“This committee of experts is mandated to identify and address legal and regulatory shortcomings that have, in some cases, enabled mismanagement and undermined public confidence,” he said.
Sacco Society’s Act
Further, the head of state pointed out that these reforms will culminate in the review of the Sacco Societies Act of 2008 and the development of new regulations to operationalise the amended law.
Additionally, Ruto highlighted the Cooperative Bill No. 7 of 2024 as a significant milestone in the reforms in the sector.
“One of the most significant milestones is the cooperative bill number 7 of 2024; this landmark piece of legislation, shaped by extensive public participation, is now before the Senate and will soon be presented for my assent,” he said.
Upon enactment, it will herald a new era for the cooperative sector anchored in strong governance, enhanced transparency, and improved service delivery.
In line with the national economic transformation agenda, President Ruto also announced that targeted interventions are being implemented in high-impact value chains such as coffee, cotton, and dairy, with a focus on integrating cooperatives to boost productivity and incomes.
