This archive report was first published on 21 May 2020.
On April 22, 2020, the acting Commissioner for Co-operatives Development, Geoffrey Nyang'ombe, announced an inquiry into the operations of Tuungane Tujijenge Sacco Society in the Kenya Gazette.
The investigation, which is expected to be completed within 15 days from April 27, 2020, aims to address various issues raised by members, including the sacco's bylaws, working and financial status, and governance.
Members have also requested the inquiry to investigate the conduct of the management committee, including those still in office and their predecessors.
The move comes as the regulator considers setting up a Sacco Societies Fraud Investigation Unit to combat rogue sacco officials who have been fleecing Kenyans of billions of shillings in hard-earned savings.
The unit, a collaboration between the Saccos Regulatory Authority, the Directorate of Criminal Investigations, and the Ethics and Anti-Corruption Commission, has been in the works since February 2019, but its launch has been delayed.
