Moi University Sacco Fights Sale of Building

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Moi

Members of the troubled Moi University Sacco Thursday staged a demonstration in Eldoret town to oppose the planned sale of Musco Towers without their involvement.

They claimed they spent Sh400 million through savings and a bank loan to put up the structure in Eldoret’s central business district and would not accept the planned auction of the property.

“There is an attempt to sell this building cheaply to some people and we want to tell them to be warned that nobody will sell this building. We also want a probe into possible loss of funds of this sacco,” said Jack Willis Abok, sacco member and the secretary-general of the Universities Academic Staff Union (Uasu) Moi university chapter.

The government in 2018 revoked the licence of Moi University Sacco and placed it under liquidation.

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A gazette notice published last year by then Commissioner for Co-operative Development Mary Mungai cancelled the registration of the deposit-taking sacco and appointed two liquidators to take custody for a year.

“When we asked why our sacco’s doors were closed we were not told what the problem was and what was the solution. For the last one year, the liquidator has never called a meeting. Last month we were to hold a meeting but it was cancelled indefinitely the last minute,” said another member, Wilson Koech.

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