Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
KUSCCO set for rebranding as KEFESCO under restructuring plan Government moves to address union’s financial crisis Shareholders to discuss KUSCCO’s future on August 28 The Government is planning to rename the Kenya Union of Savings and Credit Cooperatives (KUSCCO) to the Kenya Federation of Savings and Credit Cooperatives (KEFESCO) as part of efforts to restructure…
Senators questioned Cooperative Commissioner David Obonyo over oversight failures after KUSCCO’s loan book was found overstated by more than Ksh7.6 billion. Obonyo said an inspection triggered by member complaints led to forensic investigations that pointed to alleged collusion among senior KUSCCO officials. The committee also flagged regulatory gaps, audit oversight concerns, inadequate funding and staff…
Capital DT Sacco CEO Stephen Murithi has been arraigned over alleged fraud of Ksh39 million from the Sacco. He was granted bond of Ksh1 million, with mention set for August 19 and hearing for October 15, 2026. The alleged fraud occurred at the Sacco’s Meru offices between February and April 2026. Capital DT Sacco Chief…
Sacco boards must nominate at least three eligible external auditors for members to vote on during the Annual General Meeting (AGM). The selected auditor’s appointment must be submitted to SASRA within 30 days, together with certified AGM minutes. External auditors should rotate after three years unless SASRA grants a waiver, while any midterm removal requires…
