Business & Economy3 stories from 2 sources
Billions Lost Forever? Alarm as State Moves to Liquidate KUSCCO - May 2026
The Kenyan government is considering liquidating KUSCCO (Kenya Union of Savings and Credit Cooperatives Limited) following a forensic audit that uncovered massive fraud and financial irregularities, potentially leading to billions in permanent losses for members. An audit by Auditor General Nancy Gathungu has revealed significant revenue leakages and questionable leasing practices at Postal Corporation of Kenya. However, Posta Kenya has achieved profitability, reporting a net profit of Sh488 million for the financial year ended June 2025, a significant turnaround from a Sh1.08 billion loss in the previous year.
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News Coverage
Wednesday 12:09 PMNation Business
Billions lost forever? Alarm as State moves to liquidate KUSCCO
Wednesday 11:35 AMCapital BusinessFirst
Posta Kenya returns to profit after Sh1.08bn loss
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