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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Harambee DT SACCO Writes Off Sh230mn Amid Financial Discrepancies - July 2026
Harambee DT SACCO has written off Sh230.37 million due to unreconciled bank balances and fully impaired Sh42 million deposited with the troubled KUSCCO. In a separate development, KCB Bank is expanding its Islamic banking services with new Shariah-compliant solutions targeting Muslim customers, launching a new payment card and agency banking network to cater to this growing market. Additionally, the International Monetary Fund (IMF) has revised its global growth forecast downwards for 2026, citing risks from the Middle East conflict. These stories reflect different aspects of Kenya's financial sector alongside global economic headwinds affecting investment and growth projections.
