Cabinet Secretary for Cooperatives and MSMEs Simon Chelugui announces dismissal of Kenya Union of Savings and Credit Union (KUSCCO) Board of Directors over financial impropriety.
CS Chelugui says the Board made inappropriate decisions.
“Preliminary findings indicate systemic deficiencies in the management of resources, including, high cash withdrawals out of character with expected operations – Kshs 5,466,016,687 between February 2013 and April 2024,” reads part of the Circular by the Ministry of Cooperatives.
“The Ministry remains resolute in its commitment to fostering a culture of transparency, accountability, and ethical conduct within the cooperative sector.”
KUSCCO was formed in 1973, as an umbrella organization for Saccos in Kenya, to provide advocacy, financial services and training for its members.
By our reporter
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