Kuscco - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Afya Sacco to hold delegates meeting amid financial irregularities

Sacco ReviewSeptember 6, 202503 mins

Afya Co-operative Savings and Credit Society Limited has convened a Virtual Delegates Meeting on September 22, 2025, as pressure mounts over a KSh550 million scandal that has rocked the country’s 60 year-old Sacco. The meeting notice, signed by Honorary Secretary A. Maweu, outlines a tense agenda that includes adopting financial statements, approving the 2026 budget,…

Government bans SACCOS from non-core investments amid financial crisis

Sacco ReviewAugust 7, 202507 mins

The government has barred all Savings and Credit Cooperative Societies (SACCOs) in Kenya from investing in non-core business activities until proper regulations and supervisory frameworks are in place. This decision comes amid rising concerns over financial mismanagement and instability within the SACCO sector, which has seen some cooperatives plunge into financial turmoil due to unregulated…

Wetang’ula urges farmers to root out corrupt officials in troubled SACCOs

Sacco ReviewJuly 28, 202504 mins

National Assembly Speaker Moses Wetang’ula has issued a strong call to farmers to weed out corrupt officials from cooperative societies, warning that graft within agricultural SACCOs is fast eroding the backbone of the farming sector. Speaking on Sunday, July 27, at St. Peter’s Catholic Church in Sirisia Constituency, Bungoma County, Wetang’ula criticized the rampant mismanagement…

KUSCCO to auction properties of defiant SACCOs over Ksh1.36 Billion loan default

Sacco ReviewJuly 23, 202504 mins

The Kenya Union of Savings and Credit Co-operatives (KUSCCO) is set to auction properties to recover Ksh1.36 billion in unpaid loans from SACCOs that secured funding against deposits worth Ksh368 million leaving a massive shortfall of nearly Ksh988 million. KUSCCO has since issued demand letters requiring defaulting SACCOs to submit payment or a formal repayment…

2025 World Credit Union Conference kicks off in Sweden

Sacco ReviewJuly 16, 2025July 16, 202504 mins

The 2025 World Credit Union Conference (WCUC) kicked off on Monday, July 14, in Stockholm, Sweden and will run through Wednesday, 16 July 2025. Organized by the World Council of Credit Unions (WOCCU), this year’s conference — themed “The Future is Cooperative” — brings together global cooperative leaders to share insights, shape policy, and strengthen…

KUSCCO to hold SACCO Societies Act Review Workshop in Naivasha

Sacco ReviewJuly 9, 202502 mins

Kenya Union of Savings and Credit Co-operatives (Kuscco) will hold Savings and Credit Cooperatives (SACCOs) SACCO Societies Act Review Workshop from 29h July to 1st August 2025. In a statement, KUSCCO indicated that the workshop will be held in Naivasha town, Nakuru County will be attended by Saccos Chief Executive Officers, committee of experts and…

Former KUSCCO directors challenges order to vacate office

Sacco ReviewMay 27, 2025May 28, 202504 mins

In the midst of a growing leadership struggle within the Kenya Union of Savings and Credit Cooperatives (KUSCCO), former directors who were recently ousted from office are protesting the decision and the official removal order. The former directors who are now directors and executives in various SACCOs were removed from the KUSCCO office after the…

Nyati SACCO institutes KSh 86.4 Million law suit against KUSCCO

Sacco ReviewFebruary 24, 202505 mins

Nyati Deposit-Taking SACCO has taken legal action against the insolvent Kenya Union for Savings and Credit Co-operative Organization (KUSCCO), seeking to recover a sum of KSh 86,433,583.00 held by the Union as Fixed Deposits. The case, with file number Milimani JR Application N.E 035 of 2025, is currently before the High Court of Kenya in…

Government to implement decisive measures to curb Saccos’ financial mismanagement

Sacco ReviewFebruary 20, 202506 mins

Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises Development, Wycliffe Oparanya, has assured that the national government is taking decisive steps to curb financial mismanagement in Saccos across Kenya. His remarks follow the alleged misappropriation of KSh 82.8 million at the Kenya Union of Savings and Credit Cooperatives (KUSCCO), raising concerns over financial…

KUSCCO officials charged in connection with KSh83m theft freed on KSh14.5m bail

Sacco ReviewFebruary 19, 202503 mins

Former officials of Kenya Union of Savings and Credit Cooperatives Limited (KUSCCO) who have been charged in connection with theft of KSh83 m from the union have been released on a cumulative KSh14.5 million cash bail. The five George Magutu Mwangi, George Otieno, George Owino, Jackline Atieno and Mercy Muthoni were presented in court on…