An audit of the financial records of the Kenya Union of Savings and Credit Co-operatives (Kuscco) has revealed a rot that has cost the organisation over Sh6 billion in losses, prompting the dismissal of the board and senior officials.
The review, done by American audit firm Grant Thornton, disclosed misappropriation of member funds, illegal withdrawals, cash transfers, and engagement in illegal or unlicensed activities, ostensibly steered by the now dismissed officials.
