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Originally published by Capital Business
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business
August 6, 2025
2d ago

Why Moi University Sacco liquidation will proceed despite protests

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  • MUSCO's license was revoked in 2018 after accumulating a debt exceeding Sh1 billion due to mismanagement and non-performing loans.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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