On 10.1.1964 Mwea irrigation Scheme licensee Thrift Co-operative Society ltd with membership drawn from rice growers who were licensees (tenants) of National irrigation Board in Mwea irrigation settlement was registered. As the name thrift implies the society bylaws only allowed members to save but … read morenot borrow. Since the intention was to save and borrow, the society changed its name on 22.7.1965 to Mwea Tebere Co-operative Savings and Credit Co-op Society ltd, the by-laws were also amended to enable members save and borrow the. This new Society operated on check-off deducted from their rice proceeds by National Irrigation Board (NIB) and remitted to the Society.
Share contributions, principal loans and interest were to be deducted from the rice growers’ proceeds and the net either paid cash or through commercial banks.
In 1966 the Government decided to build Mwea Rice Mills ltd and allowed the Society members to buy shares. Their bylaws could not allow them and therefore they formed another Society in 1967 by the name Mwea farmers Co-operative Society ltd. to take care of members’ stake/interests in the private company.
The two societies were amalgamated under the name Mwea Amalgamated Rice Growers Co-operative in 1983 but later in 1993 split into the current MWEA RICE GROWERS MULTIPURPOSE CO-OP and MWEA RICE FARMERS SACCO. Rice farmers have continued to benefit from short term and long-term loans based on 3 times of their shares and deposits, from Mwea rice farmers Sacco. On the other hand Mwea Rice Growers Co-operative Society ltd apart from taking care of rice farmers interests in Mwea Rice Mills Ltd have, after liberalization of the rice sector in 1999, taken over the function of rice production, processing and marketing from National Irrigation Board.