Kenya Union
of Savings and Credit Co-operatives (KUSCCO) entered voluntary liquidation on
August 28, 2026, following a member vote prompted by a PwC audit revealing
fraud, theft, manipulated accounts, and conflicts of interest.
The organization owed Sh17 billion against just Sh5.4 billion in recoverable assets, leaving Saccos and creditors with major losses they must now provision for.
Liquidators took control after a gazette notice on August 31, 2026, while a new body, KEFESCO, steps in for advocacy and training without the old debts. Observers call it a wake-up call to favor better-regulated institutions.