Kenya Union of Savings and Credit Cooperatives (KUSCCO) is facing a Sh108.8 million auction by RUPSA SACCO, formerly PCEA RUIRU SACCO.
This is after the Sacco obtained orders allowing the auction to recover millions of deposits after KUSCCO disregarded several court orders.
“We have, regrettably, had to take this unprecedented action following KUSCCO’s blatant disregard of a Cooperative Tribunal judgement ordering it to refund the RUPSA SACCO its deposits and interest, but it has also demonstrated open contempt to our organisation by settling debts to other institutions”, RUPSA Treasurer Edward Gacheru said.
RUPSA had filed a complaint with the Cooperative tribunal demanding the disbursement of its client’s deposits after several unsuccessful attempts.
Despite winning the case, RUPSA says they are yet to receive their money and that KUSCCO has been prioritising other entities over them.