Government owes Saccos Kshs. 3.8B-Kuscco

BySacco Review

Feb 24, 2021 ,
Share

By Malachi Motano

Saccos in the country are owed nearly 4 billion shillings in non-remittance of deductions from members. According to the Kenya union of cooperatives (Kuscco) managing director George Ototo, the 3.8 billion is largely owed by government linked institutions

Speaking during the sixth annual Sacco leader’s convention held in Mombasa, Ototo said universities, county governments, water companies and fresh produce entities need to be to release the funds critical to their operations.

The convention also noted that the sector has also been affected by loan restructuring carried out last year due to the covid-19 pandemic, leading to low liquidity

Leave a Reply

Your email address will not be published. Required fields are marked *