Such mismanagement by officials has lost members a lot of their savings and investments.
While criminal investigations have been commenced against officials of such saccos, these do little to recompense members of their lost earnings.
Before anyone can be admitted as a sacco official the regulator’s permission must be sought and the regulator may determine the suitability of such a person to serve as an official.
The regulator may with sufficient reason bar a person from serving as a sacco official.
Some officials have been very negligent in how they manage saccos such that the members ‘investments are lost.
