Kuscco liquidation vote costs saccos Sh11bn

Kuscco members are set to lose at least Sh11.6 billion after the organization was put into voluntary liquidation. A forensic audit uncovered theft and financial manipulation amounting to Sh9.3 billion. Members voted for liquidation to recover whatever value remains of its assets instead of committing more funds to the troubled institution. Approximately 292 saccos and individuals have filed lawsuits seeking a total of Sh6.48 billion, exceeding the available assets of Sh5.4 billion.