Fifty-eight savings and credit co-operative societies (saccos) risk bank account freezes and property auction in efforts to recover Sh1.36 billion they owe the Kenya Union of Savings & Credit Co-operatives (Kuscco), which was hit with a multi-billion shilling fraud.
The 58 tapped loans in the 23 years to 2024 and have defaulted as the State seeks to prevent Kuscco from collapsing after a Sh13.3 billion heist, which triggered the arrest of four top officials and a lawyer.
