The Kenyan government is considering liquidating KUSCCO (Kenya Union of Savings and Credit Cooperatives Limited) following a forensic audit that uncovered massive fraud and financial irregularities, potentially leading to billions in permanent losses for members.

• An estimated Sh12 billion financial hole has been exposed, with only about Sh4.8 billion expected to be recovered.
• Key involved parties include KUSCCO, Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya, and the Senate Trade Committee.
• The audit revealed a complex web of fraud, ghost saccos, manipulated accounts, fake audits, and allegedly politically connected networks, with some deposits reportedly mobilized through 3% finder's fees.