Loopholes in the law should be sealed to prevent rogue Sacco officials from fleecing members, retired Commissioner of Co-operative Development Mary Mungai has said. She spoke at the launch of the rebranded Tabasuri DT Sacco (former Kemfri Sacco) during its 30th Annual Delegates Meeting at a Mombasa Hotel. The audited Saccos, which include Tabasuri DT Sacco, have a combined asset base of Sh1 trillion. The regulator has had an MoU with the Ethics and Anti-Corruption Commission to help Saccos prevent poor governance. Tabasuri DT Sacco chair Lucas Mogire said the rogue Saccos have painted a bad image of Saccos, which scares away potential savers.

Source: The Star April 01, 2019 06:56 UTC