KUSCCO liquidator directs borrowers to continue loan repayments
In a notice dated October 8, liquidator Waithaka Ngaruiya said borrowers should continue making their monthly instalments through the bank accounts specified in their loan agreements with KUSCCO.
NAIROBI, Kenya - The liquidator of the Kenya Union of Savings and Credit Co-operatives (KUSCCO) has instructed borrowers to continue making their loan repayments according to their loan schedules, despite creditors being required to submit claims against the struggling cooperative. A notice issued on October 8 by liquidator Waithaka Ngaruiya emphasized that borrowers should persist in depositing their monthly instalments into the designated bank accounts outlined in their individual loan agreements with KUSCCO.
In a separate directive, Ngaruiya appealed to KUSCCO's creditors to furnish evidence of the amounts owed to them by submitting proof-of-debt claims. The liquidator cautioned that creditors failing to substantiate their debts risk being barred from any distributions prior to the validation of their claims. Ngaruiya assumed his role as liquidator through Gazette Notice No. 15270, dated September 23, 2026, pursuant to the Insolvency Act and the Co-operative Societies Act.
KUSCCO, the national body representing savings and credit cooperatives, is currently navigating through liquidation proceedings to ascertain its liabilities and recuperate outstanding debts.
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