Senior government officials from Kenya’s financial sector travelled halfway around the world to B.C. to learn the art of regulating credit unions, in the hopes of strengthening one of the most important aspects of the Kenyan economy.
“Some of the strongest credit unions in the world,” are here in Canada, said Mr. Carilus Ademba, the chief executive officer of the semi-autonomous Kenyan agency (SASRA) that regulates credit unions – or SACCOs, as they are called in Kenya.
Credit unions are an important part of the B.C. economy. According to a March, 2012, report by Credit Union Central of Canada, the two largest credit unions outside of Quebec are B.C.-based: Vancity and Coast Capital Savings. Consequently, Mr. Ademba said, visiting British Columbia made sense.
Kimberly Nursall – Globe and Mail – January 31, 2013.
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