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- MUSCO's license was revoked in 2018 after accumulating a debt exceeding Sh1 billion due to mismanagement and non-performing loans.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.
Continue Reading
Read the complete article from Capital Business
Part of the Day's Coverage
Kenya's Government Financial Actions and Liquidations - August 2025
The Kenyan government has announced plans to raise KSh 100 billion by selling the Kenya Pipeline Company (KPC). Concurrent with this, KPC will offer shares to employees via an Employee Share Ownership Plan (ESOP) ahead of its Nairobi Securities Exchange (NSE) listing in September. Separately, the government has refused to reverse the liquidation of Moi University Savings and Credit Society (MUSCO), despite protests from members and local leaders.
