Lifestyle Audits on Owners and Managers of Kenyan Saccos

The Ethics and Anti-Corruption Commission and the State Department of Co-operative societies have signed a memorandum of understanding that will see owners and managers of SACCOs be subjected to lifestyle audits.

EACC chief executive Twalib Mbarak said that the agreement would also entail scrutinizing their wealth and recover unclaimed and unexplained assets.

The new agreement comes in the wake of increasing cases of mismanagement and embezzlement of members’ funds by a number of local saccos.