- The Co-operative Development Commissioner has initiated a formal investigation into Kinatwa Sacco’s governance and financial affairs.
- Investigators will examine the society’s debts, pledged assets and conduct of current and former officials.
- The 21-day inquiry will involve hearings and a review of the Sacco’s records, with members required to cooperate.
The Commissioner for Co-operative Development has ordered a 21 day inquiry into Kinatwa Sacco Society Limited, registration number CS/10386, over questions about how the society is run and whether it is financially stable.
The order was published in a gazette notice under the Co-operative Societies Act (Cap. 490). It sets out what investigators must examine. First, they will check whether the Sacco is following its own by-laws. They will then review its working and financial condition, along with the total debt it carries and the status of any assets pledged against those liabilities. Finally, they will look at how both past and present management committee members and officials have conducted themselves.
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Two officers from the SDC Nairobi office will lead the work. They are Patrick Mutiiria, an Assistant Commissioner for Co-operative Development, and John Kariuki Kinyanjui, a Senior Co-operative Auditor. Within the 21 days, the pair must hold hearings and go through records at venues to be designated.
All current and former officers, committee members and ordinary members of the Sacco have been told to cooperate fully with the team.
Once the inquiry closes, its findings are expected to guide the government on the corrective action, legal compliance and accountability measures needed to protect members’ savings.
By Benedict Aoya
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