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Kuscco liquidation vote costs saccos Sh11bn

Delegates attending a past Kenya Union of Savings and Credit Co-operatives (Kuscco) Limited Annual General Meeting at Hilton hotel in Nairobi on May 28, 2021.

Photo credit: File | Nation Media Group

By  Patrick Alushula

Business Reporter

Nation Media Group

Sacco members look set to lose at least Sh11.6 billion after Kenya Union of Savings and Credit Co-operatives (Kuscco) was put into voluntary liquidation, dimming the legal push for co-operatives to fully recover investments in the umbrella body.

Kuscco members on Friday voted to wind up the central body after failed attempts to revive it from insolvency.

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