High Court stops KUSCCO liquidation amid opposition
The case was filed by RUPSA NWDT Sacco Society Limited, which challenged the liquidation of KUSCCO after losing Sh108.8 million following the union’s collapse...
✨ Key Highlights
The High Court has issued a temporary injunction halting the liquidation of the Kenya Union of Savings and Credit Co-operative Union Limited (KUSCCO). This decision follows a challenge filed by RUPSA NWDT Sacco Society Limited.
- The court ruled that the appointed liquidators cannot use the same Gazette Notice that appointed them to exercise their powers.
- The case was brought after KUSCCO collapsed, causing significant financial losses for member SACCOs, including RUPSA NWDT Sacco Society Limited which lost Sh108.8 million.
- A PwC forensic investigation two years ago revealed a financial shortfall of between Sh12 billion and Sh13.3 billion at KUSCCO, linked to mismanagement and alleged ghost loans.
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Nyakang'o Blocks Treasury Spending, High Court Halts KUSCCO Liquidation - September 2026
Controller of Budget Margaret Nyakang'o significantly curbed National Treasury spending plans, blocking a record Sh72 billion in the financial year ending June 2026, preventing Cabinet Secretary John Mbadi from authorizing withdrawals that bypass parliamentary approval. The High Court issued a temporary injunction halting the liquidation of the Kenya Union of Savings and Credit Co-operative Union Limited (KUSCCO), following a challenge filed by RUPSA NWDT Sacco Society Limited. Separately, the East Africa Law Society urged the Kenyan government to ensure its crackdown on unlicensed foreign traders adheres strictly to Kenyan and East African Community laws, emphasizing legal compliance in enforcement actions.
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