Chelugui kicks out KUSCCO management over questionable financial dealings

Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Simon Chelugui has announced the dismissal of the Kenya Union of Savings and Credit Union (KUSCCO) Board of Directors over cases of maladministration.

The CS further directed the Commissioner for Cooperative Development to appoint an interim board to run the affairs of the SACCOs union.

“In response to these findings, immediate administrative measures were taken, including the dismissal of implicated top managers and administrators, to facilitate a comprehensive audit of the union’s operations and financial records,” said Chelugui at a press briefing

According to the minister, a probe recently conducted on the SACCOs umbrella body revealed significant discrepancies in the management and operations.

“Preliminary findings indicate systemic deficiencies in the management of resources, including…high cash withdrawals out of character with expected operations – Kshs 5,466,016,687 between February 2013 and April 2024,” he said

The Cooperatives CS has since appointed audit firm Grant Thornton to conduct a thorough examination of the union’s financial affairs.