An increasing number of Kenyan Saccos are reeling under the weight of mismanagement, fraud and bad loans that have put the Sh1 trillion sector on a path of instability that if not reversed could have damaging contagion on the entire economy.
At stake are hundreds of billions of shillings of members’ savings that have either been lost or are at risk of being lost as more and more cases of financially troubled Savings and Credit Co-operative Societies (Saccos) come to the fore.
