The Stima Investment Cooperative Society board has been disbanded following a report by the Ministry of Industry exposing a quagmire of problems. “The entire board of directors of Stima Investment Cooperative Society has been dissolved with effect from February 18, 2019,” Gichohi said. The inquiry report written by Hesbon Kiura and Charles Mugwika says that the board locked out representatives from Stima Sacco and Kenya Electricity Generating Company. "The society by-laws provide that Stima Sacco should be represented in the committee of Stima Investment and the Stima Sacco CEO should be an ex-officio in all committee meetings of Stima Investment," the report says. It also says that the board members went on a retreat and instead of using pool transport, they each used separate means only for them to claim millage.

Source: The Star March 04, 2019 14:48 UTC