Kuscco faces insolvency battle as debt claims pile up

The Kenya Union of Savings and Credit Co-operatives (Kuscco) is facing an insolvency crisis with liabilities of Sh17.7 billion as courts handle mounting claims it cannot meet. The High Court has issued preservation orders barring Kuscco from disposing of assets or entering new financial obligations. Rupsa Sacco has filed a liquidation petition, claiming Kuscco has a deficit of Sh12.5 billion and failed to honor a statutory demand for payment of a Sh108.8 million debt.