Could the Cabinet Secretary – (i) explain in detail the findings of the inquiry into the …

Question

The Member for Gatanga (Hon. Wakili Edward Muriu, MP) to ask the Cabinet Secretary for Co- operatives and Micro, Small & Medium Enterprises (MSME) Development: - Could the Cabinet Secretary – (i) explain in detail the findings of the inquiry into the affairs of Metropolitan National Sacco Ltd instituted by Commissioner of Co-operatives vide a gazette Notice No. 4558 dated 22nd April 2022 and in particular, the state of affairs of the Sacco and its solvency, working and financial conditions of the Sacco and the conduct of the present or past Directors and Management of the Metropolitan National Sacco as at 1st May 2023? (ii) explain why 100,000 members and depositors who have saved their earnings with the Sacco cannot access their shares, savings and deposits nor can they be able to obtain loans on request? (iii) disclose the full names of the Board of Directors and Senior Managers who have been running the Metropolitan National Sacco Ltd prior to 1st May 2023? (iv) explain what actions the Sacco Societies Regulatory Authority (SASRA) has instituted to recover funds misappropriated or stolen to the tune of Kes. 12 billion by the Board Members and the Senior Management? (v) outline measures that the Ministry is undertaking to forestall loss of savings in the Saccos by members and efforts geared towards compensating the Sacco members in the Sacco is adjudged insolvent?