C
Originally published by Capital Newstop
May 13, 2026
2h ago
Oparanya Says KUSCCO Faces Sh12bn Financial crisis due to mismanagement
CS Oparanya warned that the crisis had negatively affected member SACCOs and posed a threat to confidence in the wider cooperative movement. - Kenya breaking news | Kenya news today | Capitalfm.co.ke..
✨ Key Highlights
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) is facing a significant financial crisis, estimated at Sh12 billion, due to years of mismanagement and governance failures, according to Co-operatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya.
- The crisis could impact over 3,000 member SACCOs nationwide.
- A forensic audit by PwC uncovered the extensive financial deficit.
- The Ministry is implementing corrective measures including debt recovery and legal action, with over Sh369 million already refunded.
Continue Reading
Read the complete article from Capital News
Advertisement
Advertisement