Members of Copperhill Sacco based in Migori County are a disgruntled lot.
They wrote the below letter to the Commissioner of Cooperatives to help save them from the imminent collapse of the mismanaged Sacco TO THE ; COMMISSIONER FOR COOPERATIVE DEVELOPMENT SOCIAL SECURITY HOUSE, BLOCK A, 17th (Eastern Wing), 23rd Floor(Eastern Wing) P.O. Box 30418-00100, Nairobi Kenya Tel:+254 20-2731531 Kenya AR SIR/MADAM RE: REQUEST FOR AN INVESTIGATION, COOP. BANK ACCOUNT-NO 01120481927300 WIRHDRAWALS AND DISCLOSURE OF THE COPPER HILL SACCO MANAGEMENT ON EMBEZZLEMENT OF SHAREHOLDERS FUNDS AND ABUSE OF OFFICE UNDER THE LEADERSHIP OF THE FOLLOWING; FELIX ODHIAMBO OKWANYO---CHAIRPERSON--Withheld STEVE AYAKA OLOO---SECRETARY—Withheld DAMIANUS AKOTH OKUMU—TREASURER BENRAD OBUYA OTINA----LOAN OFFICER—Withheld JEREMIAH WILSON---SECRETARY LOAN COMMITTEE DORCA OKUKU---LOAN COMMITTEE The above mentioned Sacco, (copper hill) OFFICE is located in Nyatike Town, at the headquarters of Nyatike Sub County in Migori County.
Until 2016 December, the Sacco abruptly stopped its functions closed the door and disappeared without notifying its members/shareholders and the public.
According to the policy/regulations/guidelines of the Sacco Regulatory Authority (SRA) OF KENYA, the above entity’s integrity or existence is questionable.
The management disappeared with all the assets and information regarding the status of the Sacco.
Suddenly during the month of June 2019, the Sacco resumed its operations again without any clear notification to its members/shareholders and the general public and under the same and former management.
Below are some of the genuine complains the shareholders raise against copper hill Sacco; 1. AGM-ANNUAL GENERAL MEETING The Sacco never called any meeting in the name of AGM, as mandated and guided by the Sacco Regulatory Authority of Kenya (SRA) a situation which compromised its integrity hence abuse of office. 2. FINANCIAL POSITION OF THE SACCO. Following an extracted bank statement for the period 21ST January 2014 to 18 May 2015, the statement show several abnormal cash withdrawals without accounting procedures and supportive documents, the money was being withdrawn without the authority of the shareholders because there were no meetings conducted qualifying the attached bank transactions.
The financial and accounting books cannot be traced update.
The members believe that the Total amount of money withdrawn as shown on the attached bank statement were embezzled/ squandered and were never used for any purposefully as may be intended by the Sacco.
From 21st January 2014 the bank available balance was KSH: 3,772, 800.00 , total
Withdrawals were KSH. 3,771,229.00, available bank account balance was KSH . 1,571 an indication that the amount withdrawn was beyond limits and abnormal. 3. COPPER HILL SACCO SHAREHOLDERS ASSETS The following copper hill Sacco assets could not be traced since then. (1) Photocopying machine HP series 1120 (2) Computer Desk top HP series (3) 4 executive Office Chairs (4) 40 plastic chairs (5) 1 tent of (100 persons capacity) (6) 1 executive office table (7) 1 wall unit The said shareholders had earlier raised the same complaint severally to the relevant office of the cooperative commissioner, Migori County dated 26th June 2019, the DCIO Nyatike, OCS, Nyatike Yet no action has ever been taken. We therefore kindly request your able office and as one of the law enforcing bodies of the Kenyan government to investigate and disclose the status of the above mentioned assets and to immediately bring to a halt any transaction in the name of Copper Hill Sacco until these complains addressed and determined. Attached to this letter, please do find other supportive documents related to this course. A letter to the commissioner of cooperative development, Migori county dated 26/06/2019, addressing over the same. Copper hill Sacco certificate, REG NO CS/15868 Complain letter to the DCIO Nyatike dated 3rd June 2015 Corporative Bank, the statement for the period 21st January 2014 to 18th May 2015. YOURS FAITHFULLY ELIJAH OGALLO MAINA ISAIAH OKOTH SURE SIGN GILBERT OCHOLA MAINA SIGN MICHAEL OKWETO WANJIRA SIGN