Imarisha Sacco in Kericho county with a membership of 76,000 has been using this year’s education forums to sensitise members about the liquidity of the society and progress.
It is alleged that millions of shillings was siphoned an issue that scared members who demanded an explanation from the management.
Imarisha Sacco that has investments in Kericho and Bomet counties has teachers as majority of its members. It has in the past become a subject on social media with claims money amounting to millions of shillings was being withdrawn.
During Kimulot division education day for members, Bomet Kenya National Union of Teachers treasurer Richard Cheruiyot set the ball rolling when he challenged society chairman Mathew Ruto to explain if indeed the allegation was true.
“As a member, I know that we have a strong Sacco and as such, we demand to be told the truth to avoid members threatening to withdraw their membership,” Cheruiyot stated.
Ruto defended the society saying it was propaganda by malicious people stating that it is unfortunate that people can decide to damage the name of the society.
He disclosed that the society is performing well where they had managed to get a profit of Sh606 million in the last financial year.
On whether the society requires an audit, Ruto says the Sacco is open to any government agency to investigate any allegation.
Whether the society will be subjected to investigations, its economic power base is sound and good with investment such as buildings and membership growing day by day.
William Ruto is a member of Imarisha Sacco. The society chairman told the members in Kimulot that those spreading propaganda among them was a delegate who wanted to be a member of board.
He said there are two staff members who were dismissed because of misconduct.
He did not outline if the allegations of money were true leaving members in dilemma.
Some of the directors have employed their children in the society.
Already, Sacco officials are blaming Anthony Korir and Charles Yegon for having leaked crucial documents Weekly Citizen is in posession of.
Among the document is the mystery surrounding a petty cash voucher of Sh7.5 million to clear tax arreas at Kenya Revenue Authority. Chairman Mathew Ruto, treasurer Charles Sigei have been implicated in the deal.
Mathew Rotich, Imarisha CEO has been instrumental in helping directors employ relatives and award themselves hefty allowances and imprests. For now the future of Imarisha is bleak as loan requests by members are taking days to be processed