Financially crippled members of Puan Sacco are up in arms over mismanagement and corruption within the organization which has left them without dividends and access to emergency loans.
Disgruntled members are calling on the County Government of Narok to intervene and address persistent issues that they say have plagued the organization for the past three years.
This has sparked widespread calls for immediate intervention by regulatory authorities.
Members accuse Puan Sacco’s management (particularly the manager and corrupt board members) of self-dealing by granting themselves interest-free loans while excluding other members.
This malpractice has dealt a major blow to the financial health of the Sacco.
Puan Sacco members have not received their rightful dividends for the last three years which is against the regulations set by regulatory bodies.
The silence from the echelons of the Sacco Societies Regulatory Authority (SASRA) regarding this glaring issue is disquieting.
Adding insult to injury, the financial instability of the Sacco has led to a halt in loan disbursements – including emergency loans.
This has left many members in financial distress and unable to access their hard-earned money during times of need.
Further compounding financial woes at Puan Sacco is the subject of outgoing members being denied their shares.
Members are now vehemently demanding an exhaustive lifestyle audit of both the personnel and board members of Puan Sacco to elucidate any financial irregularities and hold culpable crooks accountable.
With authorities at SASRA and other regulatory entities ostensibly exhibiting a reluctance to address these burgeoning crises, aggrieved Puan Sacco members are now compelled to beseech the intervention of the County Government of Narok to restore order within Puan Sacco operations.
The perceived sluggish response from Governor Patrick Ole Ntutu’s administration has only added to the frustration of Puan Sacco.
Members are now apprehensive that similar to SARSA officials and other regulatory bodies, officials within Narok County may likewise be susceptible to compromise.
They could choose to avert their attention from the prevailing malfeasance at the price of a few coin.
Members are now demanding a comprehensive lifestyle audit of Puan Sacco staff and board members to uncover financial discrepancies and hold those responsible accountable.
