The Kenyan government plans to rename Kenya Union of Savings and Credit Cooperatives (KUSCCO) to Kenya Federation of Savings and Credit Cooperatives (KEFESCO) following significant financial losses.

• Estimated financial losses at KUSCCO range between Sh12 billion and Sh13.3 billion.
• The proposed change was announced by Cooperative Development Commissioner David Obonyo ahead of a special general meeting on August 28, 2026.
• Losses are attributed to issues like ghost loans, falsified commissions, and executive mismanagement, as revealed by a PwC audit in 2025.