Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
KUSCCO borrowers have been directed to continue servicing their loans as the liquidation process proceeds. The liquidator has invited creditors to submit formal claims for outstanding debts. Creditors who delay verifying their claims risk missing out on payments made before verification. Borrowers of the struggling Kenya Union of Savings and Credit Co-operatives (KUSCCO) must keep…
Imarika DT Sacco says it fully provided for its KUSCCO exposure by 2025 The Sacco says its capital and liquidity position enabled it to maintain member payouts Imarika has tightened investment and risk controls following the KUSCCO crisis Imarika DT Sacco says it fully provided for its Kenya Union of Savings and Credit Cooperatives (KUSCCO)…
Saccos have set aside billions as losses tied to their KUSCCO investments KUSCCO is moving towards liquidation after members approved the process Sasra is strengthening digital supervision as new financial and cyber risks emerge Savings and Credit Co-operative Societies (Saccos) that had invested shares and deposits with the Kenya Union of Savings and Credit Co-operatives…
U&M Housing says it is separate from KUSCCO liquidation Society changed its name to distance itself from KUSCCO Members assured operations and services remain unaffected You and Me Housing Co-operative Society Ltd (U&M Housing) has moved to reassure its members that it has no link to the ongoing liquidation of the Kenya Union of Savings…
KUSCCO members accuse the Government of failing to recover billions in lost funds. An audit found the union insolvent, with liabilities far exceeding its assets. Nearly 300 court cases are piling pressure on KUSCCO as recovery efforts stall. Enraged members of the Kenya Union of Savings and Credit Co-operatives (KUSCCO) have accused the Government of…
KUSCCO employees face an uncertain future after liquidation. Years of financial troubles have already cut the workforce sharply. Workers hope a new federation will rebuild trust and stability. The decision to dissolve the Kenya Union of Savings and Credit Co-operatives (KUSCCO) has also cast a shadow over its employees, many of whom are reportedly distressed…
KUSCCO’s collapse raises fresh concerns over members’ money and accountability. Liquidators face pressure to recover assets and answer key financial questions. The crisis offers lessons on governance, investment controls and transparency. The giant Kenya Union of Savings and Credit Co-operatives (KUSCCO) has reached a dramatic turning point after members resolved on Friday, August 28, 2026,…
Saccos face potential losses as KUSCCO’s liabilities far exceed recoverable assets. Millions held by individual Saccos could be at risk as liquidation begins. The recovery process will determine how much money creditors get back. Savings and Credit Co-operative Society (SACCO) members could feel the financial fallout from KUSCCO’s collapse after the organisation was placed under…
KUSCCO has officially been placed under liquidation. The union faces a Ksh11.6 billion financial deficit. Three officials will oversee the liquidation. KUSCCO has been placed under liquidation via Gazette Notice No. 13997, after members resolved to dissolve the union amid a Ksh 11.6 billion deficit. The Kenya Union of Savings and Credit Co-operative Societies (KUSCCO)…
KUSCCO shareholders have approved the union’s dissolution as debts far outweigh its assets. Members have backed a new umbrella body, KEFESCO, focused on advocacy, training, research and consultancy. A creditor has moved to court to challenge the transition, putting the new federation’s future in question. Shareholders of the Kenya Union of Savings and Credit Cooperatives…
