Ministry of Co-operatives & Micro, Small and Medium Enterprises Cabinet Secretary Simon Chelugui has appointed a new interim committee to run Kenya Union of Savings and Credit Cooperative (KUSCCO) after dissolving the previous board following mismanagement of funds allegations.
In a statement by the Ministry the 15-member interim Board will be chaired by David Mategwa from Kenya National Police DT SACCO.
The interim board took charge today in a ceremony officiated by Chelugui.
“Following yesterday’s resolution removing the board of directors of the over widespread administrative and financial malpractices, today I presided over the inauguration of an interim board of directors to steer the union through this phase of reconstruction,” reads part of the statement.
The interim board members represent seven region including Nairobi, Eastern, Central, Rift Valley, Western, Nyanza and Coast.
Members include Joel Gachari of Mwalimu DT Sacco, Osman Khatolwa (Stima Sacco Society Limited), Jennifer Mburu (Mhasibu Sacco), Robert Njue (Winas Sacco) and Francis Muriithi (Solution Sacco).
Others are Julius Nzioki (Tower Sacco), William Mbogo (Taifa), Mathew Ruto (Imarisha Sacco Society Limited), Phillip Rirei (The Noble Sacco), Sarah Nyaenya (Gusii Mwalimu), Kennedy Keya (Invest and Grow), John Zero (Imarika Sacco) and Priscilla Maranga from the office of the Commissioner for Cooperatives.
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“The bold decision we have made in the last few days culminating in today’s ceremony demonstrates our commitment as a Ministry to upholding the principles of good corporate governance and integrity not just within the cooperative movement but also across all our areas of operation,” the statement adds.
The CS added that the decision was arrived at following thorough inspection conducted by the Commissioner for Cooperatives Development last year which showed serious fraudulent activities at the umbrella body of the unions.
“Subsequently, the administrative measures were taken leading to the dismissal of some managers, paving the way for a comprehensive audit of the Union’s operations and financial records to determine the extent of the losses, unearth those culpable and also paint the actual status of its financial accounts,” said the CS.
Chelugui promised to fully support the board in executing its mandate.
In attendance was the Principal Secretary for the State Department of Cooperatives Patrick Kilemi, KUSCCO Ltd Acting Managing Director Arnold Munene, The Sacco Societies Regulatory Authority (SASRA) CEO Peter Njuguna and Commissioner for Cooperatives David Obonyo.
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