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Originally published by Capital Businessbusiness
July 9, 2026
1h ago
Harambee DT SACCO writes off Sh230mn over bank balance discrepancies
According to the SACCO's audited financial statements for the year ended December 31, 2025, the Sh230.37 million relates to a bankers' cheque control account that management said could not be reconciled or supported with sufficient documentation...
✨ Key Highlights
Harambee DT SACCO has written off Sh230.37 million due to unreconciled bank balances and fully impaired Sh42 million deposited with the troubled KUSCCO.
- The write-off of Sh230.37 million pertains to a bankers’ cheque control account lacking sufficient documentation.
- The affected organizations are Harambee DT SACCO and KUSCCO.
- This action highlights the ongoing financial impact of KUSCCO's governance crisis, which has led to estimated losses of about Sh13 billion.
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