Metropolitan Sacco okays forensic audit as Sh15bn loan gap emerges
NAIROBI, Kenya, Sep 2 – Metropolitan National Sacco Society has approved a forensic audit after revelations of an untraceable loan book asset worth Sh15 Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Metropolitan National Sacco Society has approved a forensic audit after a Sh15 billion loan book asset was revealed to be untraceable, alongside a negative equity position. This decision, aimed at addressing concerns about the Sacco's financial stability, was made during their 47th Annual General Meeting (AGM).
- Most important fact or figure from the article: A Sh15 billion untraceable loan book asset and a negative equity of Sh12.3 billion.
- Key person or organization involved: Metropolitan National Sacco Society.
- Notable detail that adds context: They achieved profitability in 2023 for the first time in over a decade through cost-cutting, but still face challenges from insufficient liquidity and loan defaults.
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Kenyan Institutions Face Financial Shortfalls, Debt, and Audit Over Sh15bn Gap - September 2025
The Metropolitan National Sacco Society has approved a forensic audit after a Sh15 billion loan book asset was revealed to be untraceable, alongside a negative equity position. This action addresses concerns about the Sacco's financial stability. At a national level, Kenya is facing a severe fiscal crisis, with 68% of ordinary tax revenue being allocated to debt servicing, which hinders critical public services. Similarly, the Kenya Wildlife Service (KWS) is seeking to address a Sh12 billion annual conservation funding deficit by proposing an increase in park entry fees. In a related issue, Kenya's pension industry, with Ksh 2.23 trillion in savings, faces significant challenges including overexposure to government securities and a surge in unpaid contributions.
