Kinatwa Sacco faces inquiry into debts, assets and management

NAIROBI, Kenya, Nov 5 – The government has ordered an investigation into the financial and management affairs of Kinatwa Sacco Society Limited to establish its financial position, outstanding debts and the conduct of current and former officials. In Gazette Notice No. 17125, the Commissioner for Co-operative Development authorised an inquiry into the society’s bylaws, financial and operational conditions, management committee and assets held against its liabilities. The investigation will also examine the conduct of past and present members and officers to establish whether the society has been managed in accordance with the Co-operative Societies Act. Patrick Mutiiria, Assistant Commissioner for Co-operative Development at SDC Nairobi, and John Kariuki Kinyanjui, Senior Co-operative Auditor at SDC Nairobi, have been appointed to conduct the inquiry. The two officials have been directed to complete the investigation within 21 days of the order. The venue and time of the inquiry will be communicated to the society’s members and officers. The investigation, conducted under Sections 58 and 73 of the Co-operative Societies Act, will establish the society’s financial standing, outstanding obligations and the value of its assets against its liabilities. It will also scrutinise decisions made by the management committee and the administration of the society’s operations. The order requires Kinatwa Sacco’s officers and members to comply with the provisions of the law governing cooperative inquiries.