Govt orders probe into KUSCCO Housing over alleged looting
NAIROBI, Kenya, Nov 30 - The government has launched a formal inquiry into KUSCCO Housing Co-operative Society Limited following member complaints Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Kenyan government has ordered a formal probe into the KUSCCO Housing Co-operative Society Limited following complaints that it was used to siphon savings from affiliated SACCOs. The inquiry, mandated by a Gazette notice dated October 28, 2025, will scrutinize the society's operations and the conduct of its officials.
- Most important fact or figure: The inquiry was launched due to allegations of the society being used to siphon savings from affiliated SACCOs.
- Key person or organization involved: Commissioner for Co-operative Development David K. Obonyo issued the order, and the investigation team includes Assistant Commissioner for Co-operative Development Fondo Nzovu and Senior Co-operative Auditor John Kariuki Kinyanjui.
- Notable detail that adds context: The probe is based on sections 58 and 73 of the Co-operative Societies Act (Cap. 490) and will investigate alleged mismanagement and significant financial losses.
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Kenya Probes KUSCCO Housing as Real Estate Project is Awarded and Economic Summit Convenes - November 2025
The Kenyan government has ordered a formal probe into the KUSCCO Housing Co-operative Society Limited following complaints that it was used to siphon savings from affiliated SACCOs. A Gazette notice dated October 28, 2025, mandated the inquiry to scrutinize the society's operations and the conduct of its officials. In other real estate news, GulfCap Real Estate has been honored by the Kenya Professional Realtors Association (KPRA) for developing the best affordable housing project. The award was given for their Buxton Point urban renewal project in Mombasa. Separately, at the AERC Research and Policy Summit in Nairobi, economists and policymakers urged African nations to reduce their dependence on foreign aid. The summit emphasized the need for a shift away from donor-dependent development models to strengthen domestic financing and foster economic independence.
