The government has appointed CPA Peter Wanjohi Kiama as the interim Chief Executive Officer of Kenya Union of Savings & Credit Cooperatives (KUSCCO) Limited as part of efforts to stabilise the organization.
Kiama has been seconded from the State Department for Cooperatives, where he previously served as Deputy Commissioner for Cooperative Development.
He will take up the role of Acting Group Managing Director and CEO for a period of three months, with immediate effect.
In a statement, KUSCCO said the appointment is a strategic intervention aimed at strengthening governance, oversight, and accountability as the organisation implements its recovery and reform agenda.
The organisation noted that the move underscores its commitment to transparency, accountability, and member-centric governance.
“The appointment of an acting CEO ensures that our commitment to transparency, accountability, and member focused governance remains at the forefront of everything we do,” KUSCCO said.
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The leadership change comes amid heightened government involvement in KUSCCO’s affairs, following a series of financial and governance challenges that have rocked the organisation.
KUSCCO has recently faced legal battles and asset auction threats. A Cooperatives Tribunal ordered the auction of the union’s movable assets to recover approximately Ksh108.8 million in unpaid deposits and interest owed to RUPSA SACCO, after KUSCCO allegedly failed to settle the debt.
However, the High Court temporarily halted the auction, granting KUSCCO a 30-day stay of execution as it appeals the ruling.
The union is also grappling with the fallout from a forensic audit that uncovered widespread mismanagement and suspected fraud estimated at about Ksh13 billion.
The loss of about Ksh 13 billion at KUSCCO comes from a forensic audit commissioned in late 2023 and reported during 2024–2025.
The audit was carried out by PricewaterhouseCoopers (PwC) and revealed years of financial mismanagement, fraud, and accounting irregularities that put roughly Ksh13.3 billion belonging to SACCOs at risk.
By Obegi Malack
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