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Kenya Qatar Diaspora Sacco Limited Now Under Probe For Looting Of Members Funds

Complaints over mismanagement of member funds as exposed by this site months ago have seen Kenya Qatar Diaspora (KQD) Sacco Society placed under scrutiny by the Kenya government.

A notice posted in last Friday’s Gazette by acting commissioner for Co-operative Development Geoffrey Njang’ombe said the investigation is expected to take two weeks and a report filed with his office.

In May, cnyakundi.com highlighted cases of mismanagement and looting of funds by management of KQD.

The Sacco which targets workers in the Gulf state has been run badly by a pastor masquerading as a financial advisor Habbakuk Wamududa.

Him and his finance guys have invested the Sacco’s collection in taxi businesses in Nairobi and other towns.

Management

The sacco has offices in Nairobi and Qatar and has an Engineer Boniface Mbugua as its treasurer. Another pastor Emmanuel Mbadi is the vice chairman to pastor Wamududa.

Probe

The KDS Sacco managers are now required to provide books of accounts from audit.

Cnyakundi.com called for this long time ago but the inept and thieving Commissioner of Cooperatives Mary was adamant.

“I authorise assistant director of co-operative audit Nelson Nyaga and principal co-operative officer Fenn Nzovu, both from Nairobi to hold an inquiry into operations of the Kenya Qatar Diaspora Sacco Society within fifteen days,” read the notice.

Kenya has a large diaspora in the super-rich Qatar pulled in by major activities including the past international athletic meet and the upcoming football World Cup.

In 2018, Kenyans living abroad sent home Sh2.7 billion with a further Sh1.44 billion coming in between January to June this year.


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