Kenya's Rogue SACCOs: You will only remain a darling until the day you want to leave

Erick Odhiambo Adega, a teacher at Ulumbi primary school in Siaya county during an interview. Taraji SACCO decided to refund him in yearly installments of Sh5,000, a spread that would take him over 32 years before he was fully refunded, instead of the three months stipulated by law. (PHOTO: COLLINS ODUOR/ STANDARD)

Philip Maina Thuo knew the importance of saving a little for a rainy day. Mr Thuo walked into Faidi Development Sacco located on Nairobi’s Ronald Ngala Street and opened an account.

Thuo says he opened the account in the Savings and Credit Co-operative (Sacco), which is located at Gatkim Complex in the heart of one of the city’s busiest streets in March 2014.