All is not well at Kimisitu Sacco – Weekly Citizen

There is more than meets the eye in the planned purchase of Sh150 million office space by Kimisitu Sacco.

According to one member, it beats logic to purchase an office space for Sh150 million when a planned construction of five-floor headquarters along Nairobi’s Woodland Avenue will coast Sh443 million.

At the same time, a section of members are questioning operations and management style of Sacco chairman Philip Oyuko. They question why the Sacco plans to use Sh24 million on the Front Office Savings Activity (Fosa).

Oyuko

Also under scrutiny is the manner in which two senior managers fronted for a firm to be awarded a tender to provide a server and software at a cost of Sh56.5 million. The installation was investment in paperless operation. Initially the cost of the project was Sh35 million. However it was inflated to hit Sh56.5 million.

Many members are also questioning why Catherine Odhiambo has been acting as Interim Chief Executive Officer, with the substantive position yet to be advised.

It is said, as acting CEO, Odhiambo’s relationship with Purity Nkui Ntoiti, the Finance Manager, has not been cordial thus affecting the Sacco’s operations.

Concerned members want Edith Kipsang the ICT manager to explain why the server and software installation cost was inflated. Audit Manager Geoffrey Makokha is said to have raised the red flag over the manner in which the software deal was being handled but was overruled by Oyuko.

Whereas the Sacco officials are said to be putting on a brave face, and claim all is well, members are questioning why the planned construction of Kimisitu Plaza has been deferred. Kimisitu Sacco draws its members from International Council of Research in Agroforestry (ICRAF) and other international bodies.

Evaline Ochieng

Kirimi

Back to the office block project, it has been on paper since 2016.

Insiders say former CEO Peter Kariuki was its brainchild. The Sacco has written proposals to its bankers to finance the project but declined on the basis that the project was not viable and the Sacco will find it difficult to service the loan going by its current financial status.

Currently, the board is said to be deeply divided. Oyuko the chairperson does not get on well with Peter Kirimi, his deputy.

In Oyuko’s camp is Evaline Ochieng, the Secretary, Jonathan Opiyo (Treasurer) and Agunga Chris. Others on board are JaneroseMwangi, June Kivinda, Phillip Mutisya and Isaac Ochieng Oduol