Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Rupsa Sacco challenges KUSCCO liquidators Sacco wants an independent insolvency practitioner Court case adds pressure to KUSCCO restructuring Ruiru-based Rupsa Sacco has moved to the High Court to block three liquidators appointed by the Commissioner for Co-operative Development. The liquidators were appointed for the Kenya Union of Savings and Credit Co-operatives (KUSCCO), the cooperative sector’s…
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’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…
KUSCCO shareholders approve full liquidation as debts hit Ksh 17 billion against Ksh 5.4 billion in assets. New national Sacco association approved to take over advocacy, training and research roles. Commissioner David Obonyo to oversee asset recovery and payouts to Saccos and depositors. KUSCCO shareholders have approved a structured liquidation after liabilities topped Ksh 17…
Friday’s vote could determine how Saccos absorb billions lost in the KUSCCO crisis. Affected Saccos have already been forced to recognise losses and set aside provisions. Pressure is mounting for accountability as members seek answers over how the funds disappeared. Kenyan Saccos head into Friday’s KUSCCo special general meeting still counting the cost of a…
KUSCCO has spent the week training SACCO leaders on budgeting, liquidity management and cost control, while Supervisory Committee members have been sharpening their oversight skills. The combination is telling: financial performance is not just about raising more money. It is also about how SACCOs plan, control costs, manage liquidity and keep management accountable. READ MORE: …
Saccos face another wait for direct access to Kenya’s National Payments System Industry leaders call for wider consultation as the Co operatives Bill remains stuck in mediation Proposed reforms could introduce a Deposit Guarantee Fund and expand services available to Sacco members Kenya’s Sacco movement is facing another delay in its push for direct access…
