KUSCCO to Auction 42 Properties Across Kenya in November

NAIROBI, Kenya, Oct 28 – Kenya Union of Savings and Credit Co-operatives (KUSCCO) Ltd, which is under liquidation, is set to auction 42 properties across Kenya in November as part of the process of disposing of its assets. The properties comprise vacant plots, residential apartments, marionettes, bungalows and commercial buildings spread across several counties, including Nairobi, Kajiado, Kiambu, Mombasa, Kisumu, Machakos, Meru and Kilifi. Watts Auctions will conduct the sales in three regional auctions scheduled for November 11, 20 and 27, according to the published notice. “The properties on offer range from vacant plots to residential and commercial developments in various parts of the country.” “The portfolio also includes rental buildings, incomplete houses and commercial developments under construction.” The first auction will cover Nairobi, Central Kenya, Kajiado and the Mount Kenya region on November 11 at Watts Auctions’ offices on the ninth floor of View Park Towers in Nairobi. Properties in Western Kenya, Nyanza, the Rift Valley and Kisii regions are scheduled for auction on November 20 at the public park near Absa Bank in Kisumu. The Coast region sale is listed for November 27 at Watts Auctions’ offices at Canon Towers in Mombasa. The advertised portfolio includes vacant plots in Kitengela, Olturoto, Joska and Komarock, as well as residential properties such as a four-bedroom bungalow in Kajiado, a maisonette in Kiambu and an apartment at Kirichwa Gardens in Nairobi. Other assets include a motor vehicle workshop in Kisii, rental buildings in Kisumu and other locations, and a commercial block under construction. Several residential developments are incomplete, with the notice indicating different levels of construction. The properties could attract individual buyers, developers and investors seeking rental income, although their investment potential will depend on location, condition, legal status and the prices achieved at auction. The notice does not disclose the combined market value of the assets, individual reserve prices or the expected proceeds from the sales. It also does not specify the proportion of KUSCCO’s outstanding liabilities that the disposals are expected to cover. The liquidation process places the auction within the broader exercise of resolving the organization’s affairs. The auction comes after KUSCCO’s members voted to dissolve the organization in August 2026 following failed efforts to revive its finances. The Commissioner for Co-operative Development subsequently cancelled its registration and ordered liquidation, appointing a three-member team to oversee the winding-up process. A government-appointed forensic audit found KUSCCO insolvent, with liabilities estimated at Sh17 billion against an asset base of approximately Sh5.4 billion. The institution’s financial difficulties were linked to alleged mismanagement and irregularities that left affiliated SACCOs facing substantial potential losses. Commissioner for Co-operative Development David Obonyo said the institution could no longer meet its obligations. Liquidation is intended to realize the remaining assets, settle verified claims according to the applicable legal priorities and distribute available proceeds.