CS Wycliffe Oparanya before the Senate Standing Committee on Trade, Industrialisation, and Tourism-Photo|Courtesy

Government intensifies SACCO reforms as Oparanya defends recovery efforts at KUSCCO and Metropolitan SACCO

Cabinet Secretary for Co-operatives and MSME Development Wycliffe Oparanya has assured the Senate that the Government is accelerating reforms in the Savings and Credit Cooperative (SACCO) sector in a bid to strengthen governance, safeguard members’ savings, and restore public confidence in cooperative financial institutions. Appearing before the Senate Standing Committee on Trade, Industrialisation, and Tourism,…

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Ushuru Sacco writes off sh5 million in KUSCCO exposure amid sector risks

Ushuru Savings and Credit Co-operative Society has written off Sh5 million tied to its investment in the troubled Kenya Union of Savings and Credit Co-operatives (KUSCCO), underscoring growing risks in the cooperative sector. The impairment, disclosed in Sacco’s latest annual report, reduced the value of its KUSCCO shares from Sh15 million to Sh10 million. The…

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