Government makes verdict on Gakuyo's Ekeza sacco

Gakuyo searches a way out of the mess

Bishop David Kariuki Ngari also known as Gakuyo

The Commissioner of Cooperatives Mary Mungai has reinstated Ekeza sacco’s licence after it was cancelled last year.

Mungai, through a statement issued last week, stated that the ban was lifted after the association had met certain standards.

“Whereas the cancellation/liquidation order was invoked and on conditions set out in the Cabinet Secretary for Industry in a letter dated June 25,2018 which has been complied with. I now in powers conferred to me revoke the cancellation/liquidation order dated March 26,2018 and reinstate registration of Ekeza Sacco,” read a part of the statement.

In March 2018, the licence was revoked by Mungai following the scandal that surrounded the sacco.

The Commissioner had further pointed out that investigations into the matter had showed that the sacco could not serve its purpose.

"I order cancellation of the registration of the said society under section 61(1). Any member of Ekeza Sacco Society aggrieved by this order may, within sixty (60) days from the date this order is published in the Kenya Gazette, appeal to the Cabinet Secretary responsible for Co-operative Development,” remarked Mungai.

The revocation had led to Bishop David Ngari commonly referred to as Gakuyo, to put up some of his properties for sale in order to repay the members of the sacco.

Munya stops Gakuyo's property auction

In February this year, Industry, Trade and Cooperatives CS Peter Munya had ordered Gakuyo to stop the sale of some of his properties.

Munya had explained that the reason for the directive was that Gakuyo might not payback the money.

 “I am not convinced that the proceeds of the sale will be used to repay the members,” stated Munya.

The Trade CS had further disregarded reports that the bank accounts to the sacco had been frozen.

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