Senator Tabitha Mutinda calls for accountability in Metropolitan National SACCO crisis

𝐏𝐚𝐫𝐥𝐢𝐚𝐦𝐞𝐧𝐭 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠𝐬
𝐖𝐞𝐝𝐧𝐞𝐬𝐝𝐚𝐲, 𝟏𝟔 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟓

Senator Tabitha Mutinda has petitioned the Senate to urgently probe the financial collapse of Metropolitan National SACCO Limited, which has left over 75,000 members unable to access their savings.

In a Statement to the Senate Committee on Trade, Industrialization and Tourism, the Senator cited the SACCO’s declared insolvency by the Commissioner for Co-operatives, attributing it to widespread financial mismanagement and alleged embezzlement.

She noted reports of irregular lending, fake dividend declarations, and loans issued to fictitious members—practices she says have severely eroded member trust. Senator Mutinda emphasized the need for transparency and justice for affected depositors.

She is seeking a full disclosure of the SACCO’s financial position, audit findings from 2020 to 2024, and whether any audit recommendations were implemented. She also called for a clear recovery plan to restore member funds.

Additionally, the Senator demanded accountability for those responsible and questioned whether the SACCO Societies Regulatory Authority (SASRA) effectively carried out its oversight mandate. She urged reforms to strengthen regulation and safeguard depositors’ rights.