Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The rush by Saccos to embrace mobile and internet banking as a replacement for the brick and mortar branches is proving to be a weak link in the fight against fraud in Saccos. A recently released SASRA report covering 2021 and 2022 shows that rogue Sacco staff are breaching internal systems and riding on mobile…
Twelve suspects linked to the mysterious disappearance of Ksh166 million belonging to the Njiwa Sacco have been charged before the Kahawa Law Courts. Appearing before Senior Principal Magistrate Boaz Maura Obwewa, the suspects pleaded to 223 charges filed against them by the office of the Director of Public Prosecutions. Through their lawyers led by Danstan…
Surestep Systems and Solutions Ltd has addressed the ongoing Njiwa Sacco fraud case. Through a press release dated September 23, 2023, the company stated that it believes it is essential to clarify that the matter dates back to 2018 and is not a recent occurrence. Since the inception of this case, Surestep has been unwavering…
Detectives from the Directorate of Criminal Investigations (DCI) have arrested nine employees of Njiwa Savings and Credit Co-operative (Sacco) Society in connection with the disappearance of Ksh160 million from Sacco savings. In a statement through its official twitter handle this morning September 23, 2023, the DCI noted that the employees belonging to staff of the…
A report from SASRA investigative unit (Sacco Societies Fraud Investigations Unit) has revealed that the Sacco sub-sector suffered an enormous loss of Ksh118.1 million in the last two years due to fraud. An additional Ksh114.4 million is suspected to have been lost in the same period. The investigative unit revealed that the fraudsters have been…
