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Originally published by Kenyans
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January 27, 2026
1d ago

Tribunal Orders Auction of SACCO Assets Over Debts

Tribunal Orders Auction of SACCO Assets Over Debts

A report revealed that at least 25 SACCOs across the country risk losing their assets to the financial mismanagement that has been rocking the SACCO...

✨ Key Highlights

RUPSA SACCO has secured Tribunal orders to auction assets of the Kenya Union of Savings and Credit Cooperative Limited (KUSCCO) to recover Ksh108.8 million in unpaid deposits, interest, costs, and fees. This follows KUSCCO's prolonged non-compliance with court directives and repeated failure to honor judgments.

  • The Cooperative Tribunal upheld RUPSA SACCO's claim for Ksh88.95 million in principal plus accrued interest.
  • A warrant of attachment allows auctioneers to seize KUSCCO's vehicles, office equipment, and other assets unless the full amount is settled immediately.
  • RUPSA SACCO, formerly PCEA Ruiru SACCO, lodged the case in March 2024 after KUSCCO ignored withdrawal instructions from April 2023 and failed to refund funds upon maturity in January 2024.
  • Acting CEO Julius Mwangi stated the SACCO exhausted diplomatic engagement due to KUSCCO's failure to honor the judgment after the seven-day auction notice period lapsed.
  • KUSCCO has been under investigation for financial mismanagement, with the Sacco Societies Regulatory Authority (SASRA) reporting members have lost Ksh14 billion.

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