Sorry state of the SACCO Industry in Kenya

[DeepInYourMind]

I sought a full account of what happened at KUSCCO, the cooperative where thousands of Kenyans saved their money for decades. The Ministry of Cooperatives has now responded, and the findings are disturbing.

For over 10 years, senior KUSCCO officials have manipulated books, invented profits that never existed, and misused billions on collapsed real estate schemes, fraudulent lending, and personal enrichment.

A forensic audit by PriceWaterCoopers confirmed that KUSCCO still owes members Ksh 12.4 billion; deposits that many contributors cannot withdraw. The entire system was rigged and hidden from SACCO oversight.

Following my direct intervention, the board was disbanded, an interim team appointed, and the key perpetrators are now facing justice in court.

I want the affected Kenyans to know, this is personal and we are together in it. It is about livelihoods lost, school fees held up, retirement plans destroyed, hospital bills unpaid.

I will not stop until the truth is fully exposed, those responsible are held accountable, and every shilling is traced and recovered.
We are rebuilding trust in this country; not with empty words, but through real action, justice and accountability.

 

[Clemens]

My vote and that of the people I can influence is for Okiya, It's about time we elected someone that cares for the country and not self/family enrichment.

 

[DeepInYourMind]

My vote and that of the people I can influence is for Okiya, It's about time we elected someone that cares for the country and not self/family enrichment.

The worst mistake by Kenyans was treating politics as entertainment. We elect people that we would never entrust to run our family affairs or even touch our finances at a personal level. Yet we allow them to make far reaching and long lived decisions that affect our present and future.

 

[Clemens]

The worst mistake by Kenyans was treating politics as entertainment. We elect people that we would never entrust to run our family affairs or even touch our finances at a personal level. Yet we allow them to make far reaching and long lived decisions that affect our present and future.

We are now learning from our mistakes, let's hope the siege mentality strategy won't work this time around.