David Mategwa: KUSCCO starts refunding money to SACCOs
Kenya Union of Savings and Credit Co-operative (KUSCCO) has begun refunding money to SACCOs.
This followed the forensic report handed to the government by the Price Waterhouse Cooper (PwC), showing that the former KUSCCO management defrauded SACCOs about KSh 13 billion.
However, after the appointment of the new leadership at the Sacco umbrella body, lead by chairman David Mategwa, who also doubles up as the Kenya National Police DT Sacco chairman, SACCOs have started receiving payments.
Speaking in Mombasa on Monday, December 8, during the 10th Annual Leaders Summit, Mategwa said KUSCCO has so far paid KSh 132 million in the year 2024 and KSh 152.2 million in the year 2025.
“We are doing the recovery of the money. Where SACCOs have defaulted, we are taking the due process of recovering the money through a property auction. We began the auction process, and the money that we have received, we disbursed to SACCOs,” said Mategwa at the sideline of the summit.
Affirming this, Co-operatives and MSME Development Cabinet Secretary (CS) Wycliffe Oparanya said that the union will further disburse KSh 112 million to SACCOs this week.
“I reaffirm the government’s intervention at KUSCCO to stabilise the Union, strengthen governance, and safeguard SACCO investments. I am encouraged to note that KUSCCO has begun refunding SACCOs, with KSh 112 million scheduled for disbursement this week, an important step in restoring confidence and trust,” said Oparanya.
The CS further noted that the government is committed to strengthen oversight bodies like Sacco Society Regulatory Authority (SASRA) and ensure members funds are protected.
KUSCCO Acting Managing Director Arnold Munene said the union has developed a certification programme to enhance ethical leadership and governance.
“We have come up with a certification programme to support our country so that we can have the foundations of ethical leadership and governance within our sector.” said Munene.
CS Oparanya officially launched the summit, joined by the Principal Secretary, Hon Patrick Kilemi, the Commissioner for Cooperatives, Mr.Obonyo, KUSCCO leadership led by the Chairman, Mr David Mategwa, a GMD, Mr Arnold Munene.
