Why Moi University Sacco liquidation will proceed despite protests

NAIROBI, Kenya, Aug 6 - The government has ruled out the possibility of reversing the liquidation of Moi University Savings and Credit Society (MUSCO), Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Kenyan government has definitively ruled out reversing the liquidation of Moi University Savings and Credit Society (MUSCO), despite protests from its members and local leaders.
- Cooperative and MSME Development Cabinet Secretary Wycliffe Oparanya stated that current legal frameworks do not allow for the reinstatement of a cooperative society once its registration is cancelled and no appeal is made within 30 days.
- MUSCO's license was revoked in 2018 after accumulating a debt exceeding Sh1 billion due to mismanagement and non-performing loans.
- The Ministry is developing a framework to engage MUSCO members and other stakeholders to find solutions for their welfare, including appointing a new liquidator and fast-tracking audits.
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