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An audit report into the Kenya Union of Savings and Credit Cooperatives (Kuscco) reveals how the organisation dished out loans to Saccos and senior staff without evidence of their ability to repay.
The audit by PricewaterhouseCoopers (PwC) shows by December 2023, the Sacco umbrella body had accumulated non-performing loans (NPLs) of Sh5.3 billion.
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