LOOTING SPREE AT KISUMU SACCO

BY JEFF OTIENO
KISUMU CITY BASED FREELANCE JOURNALIST
Email jeffotieno@yahoo.com
Cell Phone: 0720 616018

Affiliates of Kisumu based Micro Financial Institution CENT SACCO are up in arms with the management whom they accuse of fleecing them of their hard earned money with glee.

The sacco whose main objective was to eradicate poverty by extending soft and small loans to its contributing members has now been turned into a personal property with top management being accused of changing policies without consulting to defraud and deny members loans.

According to the over 20 enraged members who talked to the press, they alleged that the management has suddenly embarked on a shocking policy frame work where by a member has to avail four guarantors in order to be considered for loans.

In a bid to perpetuate their looting schemes, the financially thirsty management has decided to confine old members who are demanding for their rightful shares in the periphery and have instead opted to recruit fresh un suspecting affiliates to fleece, courtesy of their tilted policies. The sacco was incepted by a catholic body Franciscan sisters (LWAK).

Enraged members are therefore appealing to the Catholic Arch Bishop of Kisumu Diocese Zachaus Okoth to promptly intervene to salvage them from the shackles of the cartel.

According to inside sources at SIFA house the offices of the sacco, members are currently opting out over what they term “open theft” by the heartless management.

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