The Moi University Savings and Credit Society (MUSCO) has been placed under liquidation


 The Moi University Savings and Credit Society (MUSCO) has been placed under liquidation.

Two officials have been appointed to oversee this process. Kennedy A. Emali, the Principal Cooperative Auditor from Nairobi, along with Druscillah Jebet Cherogony, the Principal Cooperative Officer from Uasin Gishu, will act as joint liquidators responsible for managing assets, raising funds, and settling debts. "Therefore, I appoint Kennedy A. Emali… and Druscillah Jebet Cherogony… to serve as joint liquidators in relation to the aforementioned Co-operative Society, effective immediately," stated David K. Obonyo, the Commissioner for Co-operative Development. MUSCO’s license was revoked in 2018 due to debts exceeding Sh1 billion, attributed to mismanagement and non-performing loans. Established in 1988 by the staff of Moi University, the Sacco has encountered resistance to its dissolution from over 3,000 members and political figures; however, the government has ruled out any possibility of reversal.

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