State orders inquiry into Mwalimu Sacco’s bid to acquire Equatorial Commercial Bank

The Government has today ordered an inquiry into the affairs of Mwalimu National Sacco’s bid to acquire Equatorial Commercial Bank. 

The Commissioner of Co-operatives pursuant to Section 58 and 73 of the Cooperative Societies Act, has consequently, appointed an inquiry team to probe and report to him on the investment that has seen the Co-operative Alliance of Kenya (CAK) register its protest against as to the transaction handling.