Bid to raise funds leaves asset rich, cash poor KPCU with bitter taste

Kenya Planters Co-operative Union (KPCU) offices, Building along Haille Selassie avenue in Nairobi, Kenya on May 10, 2020. [Elvis Ogina, Standard]

The New Kenya Planters Co-operative Union (New KPCU) is inheriting assets worth more than Sh7 billion from its liquidated predecessor even as it grapples with challenges of missing ownership documents and titles charged on mysterious debts.

A final report of the liquidators Stephen Kamau Njoroge (assistant director of Co-operative audit) and Anthony Maina Waithaka (principal Co-operative auditor) shows the extent of rot at the former liquid entity that almost went under.