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Fraud

Corruption And mismanagement Killing Kisumu Teachers Sacco

Members of the once giant Kisumu Teachers Savings and Credit Co-operative Society are calling upon relevant state agencies to urgently investigate activities of the Sacco.

The members drawn from the seven subcounties of Kisumu comprising mostly teachers want investigations to zero in on the former manager of the Sacco, one Joseph Oganga who allegedly created all the mess currently bedeviling the Sacco.

Oganga is presently an employee of the county government of Kisumu in the trade department. He is accused of doctoring financial reports of the Sacco during its AGMs and deliberately making the shareholders believe that the Sacco was making profits while actually its financial base is dwindling.

The Sacco established in 1977 was duped by Oganga to purchase parcel of land in Kisumu and members were made to believe that they would get first priority in the purchase of plots which never was as all the parcels of lands which the Sacco spent millions of shillings in purchasing had issues.

“Oganga convinced the board to purchase lands in Riat, Migosi, Lolwe, Ezra Gumbe and Mamboleo areas which had controversies and more than ten owners each claiming ownership and despite being warned, they went ahead and purchased the parcel of lands whose proceeds is believed they shared as a management team of the Sacco, said Ogalo Ochama, one of the shareholders.

The Sacco had a court case against some of its former employees and some huge amount of money totaling to over Sh2 million having been withdrawn from the Sacco to sort out a judicial officer who was presiding over the case.

The membership of the Sacco has since dwindled to less than 1000 as a result of malpractice and embezzlement by the current leadership.

The manager Allan Kawa is accused of claiming that the Sacco has been steady because it has only been able to retain teachers who have retired as its members. They have accused Kawa of erasing from the Sacco’s records loans owed by Oganga and his group together which were not repaid and cannot be traced.

Over Sh50 million in form of loans cannot be traced as all the records have been erased and relevant documents have gone missing. Members lament that that the Sacco has acquired a software known as vanguard, which it spent a lot of money on and ended up not working, adding that it was only aimed at ripping off the Sacco.

The Sacco’s introduction of Pesa Pepe which was to enable members who come from far-flung places to easily access their money wherever they are never was and is a total failure.

M-Kite Loan which was introduced with an aim of one accessing money through mobile phones on the mobile banking platform, repayable within a month never materialised and huge amount of money was fraudulently paid to the company which provided the said services.

Things like Jiinue Loan which its eligibility to access is share deposits and guarantors; up to a quarter of latest net pay and its recovery period are 18 months were a hoax just like Akiba Savings Account with an opening balance of Sh5,000, operating balance of Sh5,000, interest of 3 percent per annum, withdrawal once after every 14 days with no extra charges apart from normal withdrawal fees is also a number new white elephant products which the Sacco has come up with.

He is accused of lying about the Sacco’s growth in terms of its members and assets.

“He lied that the Sacco managed to purchase two parcels of the land at Kanyakwar area within Kisumu and another one within the former Kisumu municipality at Railways which he knew very well that belonged to Kenya Railways and others under contention,” another teacher wondered.

They said that the Kanyakwar land which they purport to be about ten acres plot is a prime land which if sub-divided could give about 90 plots was only but a hoax as it was a deal between a Kisumu advocate and the management team.

The members have now called for investigations to be conducted on former Sasra CEO Carrilus Ademba, who is also said to have taken from the Sacco over Sh10 million which he never repaid.

“He was by then the head of the regulator of all Saccos and he took advantage of his position and must thus repay the loans he took plus all other people,” the members demanded said.


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