Kuscco to sell off loan book in bid to recover Sh8.8b amid fraud

Kuscco Group Managing Director Arnold Munene chats with PS Cooperatives Peter Kilemi.

The new management of the Kenya Union of Saccos and Credit Co-operatives (Kuscco) has offered to sell off its loan book to willing financial institutions as it seeks to recover at least Sh8.8 billion within five years.

The Saccos’ umbrella body, whose previous management has been in the limelight for the misappropriation of members’ savings, is considering this option due to the painstaking process of selling some of its businesses and assets.