Trouble At Kenya Police Sacco, Should Members Be Worried?

There is trouble at the Kenya Police Sacco with police and the public who have funds at one of Kenya’s largest Saccos worried about the safety of their money, pinning the trouble on the Chairman of the Sacco David Mategwa.

Members of Kenya Police Sacco accuse Mategwa of being corrupt, incompetent, arrogant, not having the academic requirements to hold that position, and not caring about the welfare of the circle with clear indications that he means no good.

Mategwa is in charge of 72,000 members of the Kenya Police Sacco which has an asset base of 49 billion shillings, a loan portfolio of 41 billion shillings, and a total deposit of 29 billion shillings, making it one of the richest saccos in Kenya.

Members of the Sacco say Mategwa was fired from his initial employment at the Kenya Union of Savings and Credit Co-operatives Ltd (KUSCCO) as a Board Member after he failed to produce the required academic papers to hold such a position.

Instead of producing the academic papers as asked by the management of KUSCCO, Mategwa rushed to court accusing the management of KUSCCO of unfairly dismissing him. Shock on him, the Courts asked him to produce the same papers. He did not have. The court dismissed the case.

Mategwa did not give up. He appealed the ruling that was against him. His appeal blew into his face because he was asked to prove that he had the said academic papers as it was being asked. He failed terribly and the appeal was dismissed.

Then with such incompetence and lack of academic papers, he found himself at the helm of Kenya Police Sacco. This was to the shock of the more than 70,000 members.

Troubles at Kenya Police Sacco started as soon as he became Chairman. Systems started collapsing with allegations of being hacked. Members, most of them police officers could not access their savings at the Sacco.

There are reports of some police officers who have either committed suicide or gone into depression for failing to get their money. There are confirmed reports of some police officers who have collapsed at the Sacco offices while trying to access their savings.

Through Bunge la Mwananchi, officers accuse Mategwa of amassing billions of unexplained and uncountable massive wealth since his take over as the chairman of Police Sacco. They feel the money is from the proceeds of their savings at the Sacco calling on the Sacco Societies Regulatory Authority (SASRA) to move with speed and audit the Sacco.

Members say that Mategwa has been heard bragging that he paid the CEO of SASRA, Mr. Peter Njuguna, a whopping 4,000,000 shillings and that there is nowhere he is going because his money will always work for him.

Police savings to the Sacco are automatically deducted from their salaries. This means that the officers have no choice to decide whether they should contribute to the Sacco or not. This also seems to have given people like Mategwa the audacity to think that the officers have no say about their savings.

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