The Sacco Societies Regulatory Authority (SASRA) has launched a probe over Ksh550 million allegedly misused by Afya Sacco management. This follows an inspection report that exposed a disturbing pattern of unauthorized withdrawals, bloated allowances, and unrecorded cash transactions stretching back over two years.
In a letter, SASRA CEO Peter Njuguna outlined how Afya Sacco’s financial troubles stemmed from repeated violations of the Sacco Societies Act and its regulations. The report paints a grim picture where millions were withdrawn without proper documentation.
SASRA Probes Sacco Over Missing Millions
