License cancellation for Moi University Sacco reversed

Commissioner for Co-operative Development David K. Obonyo revoked the cancellation under Section 62(1) of the Co-operative Societies Act. Kenya breaking news | Kenya news today |..

✨ Key Highlights

The Commissioner for Co-operative Development has reversed the cancellation of the licence for the Moi University Savings and Credit Co-operative Society (MUSCO), which was initially revoked on June 30, 2018.

MUSCO was initially deregistered due to debts exceeding Sh1 billion attributed to mismanagement and non-performing loans.
The Commissioner for Co-operative Development, David K. Obonyo, is the key official involved in the decision.
The reinstatement comes after the Sacco was placed under liquidation mid-last year, with Kennedy A. Emali and Druscillah Jebet Cherogony appointed as joint liquidators.

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