Kenya Union of Savings and Credit Cooperatives (Kuscco) board pocketed Sh18 million in allowances for site visits during the construction of the Sh1.5 billion Kuscco Homes Project.
The money, paid in cash over five years, is one of the queries flagged in the PricewaterhouseCoopers’ (PwC) audit into the Sh13.3 billion fraud at the Saccos umbrella organisation.
The payouts raised eyebrows, prompting a meeting to regulate the visits by a committee formed to oversee the project in Kitengela, Kajiado County. The audit report characterised the project as a loss right from the feasibility study, which projected net sales of Sh1.2 billion.