This archive report was first published on 14 January 2020.
On January 14, 2020, Business Daily reported that Ekeza Sacco had started refunding Sh2.4 billion in members' deposits.
The refunds come after a five-phase plan announced by the sacco's chairman, David Kariuki Ngari, also known as Gakuyo, in May 2019.
According to an advertisement in local dailies, the sacco has listed names of members earmarked to receive their refunds, with deposits ranging from Sh1,600 to Sh77,000.
The refunds are a result of an investigation by the Directorate of Criminal Investigations, which invited Kenyans who had savings in the sacco to register their claims in efforts to compel the company to refund members' savings.
Mr. Ngari is accused of siphoning more than Sh1 billion, which he allegedly used to upgrade his lifestyle by buying prime properties for his family and boosting his struggling real estate firm, Gakuyo Real Estate.
