This archive report was first published on 26 August 2019.
On August 26, 2019, the Kenya Planters Co-operative Union (KPCU) assets went on sale, marking the end of years of receivership. The move comes after the co-operative's poor performance and mounting debt, which accumulated to over 700 million, led to its downfall.
Since 2009, KPCU had been under receivership by KCB, a decision that was made due to the company's inability to pay its debts. The 75-year-old company was also plagued by poor management and corruption, which accelerated its demise.
Earlier this month, Cabinet Secretary for Trade, Peter Munya, ordered the liquidation of the union, a process that is expected to take six months. The liquidation process has raised concerns about the fate of the union's board of directors, who are facing allegations of theft and mismanagement.
