Cooperatives Commissioner Gazettes KUSCCO’s Liquidation to Recover SACCO Funds

The Kenyan government has canceled the registration of the Kenya Union of Savings and Credit Cooperatives (KUSCCO) and ordered its liquidation due to liquidity issues. This decision followed a resolution by members supporting the union's dissolution. Three officials from the State Department for Cooperatives have been appointed as liquidators to oversee the process, which is expected to last no more than one year. KUSCCO had also come under scrutiny due to a Ksh13.3 billion financial scandal, raising concerns about the safety of members' savings.