Governor Isaac Ruto on Saturday led Bomet County residents in marking the UN International Day of Cooperatives at Kaptembwo Primary School, Konoin Sub-County. The governor, who was accompanied by area MCA, Agribusiness acting CEC and Director of Cooperatives among many other county officials and dignitaries, enumerated the achievements that the County Government of Bomet has made in the cooperatives sector. “In 2013; there was only 180 registered cooperative societies in the county. Today it stands at 446. From a seed capital of KSh 35m advanced to Ward Multipurpose Cooperatives, it has grown to a revolving fund of Sh 70m.” H.E Isaac Ruto said.
According to the Director of Cooperatives Ms Daisy Bii, the county’s cooperative model is unique in the sense that it advances loans to registered groups through Ward Multipurpose Cooperatives. A new law on cooperatives has adopted the model. The loans are advanced at 1% interest rate per month. Cooperatives now have savings totaling Sh 20m from their income.
Governor Ruto presented a pasteurised milk dispenser machine to Kimbilio Daima Co-op and a truck to Bomet Co-operative Union. The climax of the day was the presentation of trophies to the best performing cooperatives.