Ekeza Sacco makes partial payment to members


Ekeza Sacco makes partial payment to members
Rev. David Kariuki Ngare alias Gakuyo during a past sermon. PHOTO | COURTESY

In Summary

  • In an attempt to recover the Ksh.1billion supposedly lost, Gakuyo had said he would sell some of his buildings, hotels and lands in Nairobi and other parts of the country.
  •   While speaking to journalists, Gakuyo assured all members that they would get back their money.
  •   He had earlier given a deadline of June 13, 2019.

Members of Ekeza Sacco on Friday queued for hours at the Thika offices in an attempt to recover their savings.

Word had spread that Ekeza sacco chairman David Kariuki Ngari alias Gakuyo would release partial payments to the members.

Last year the sacco’s license was revoked after it was faced with corruption allegations.

The chairman was put on the spot for allegedly withdrawing Ksh.1billion from the Ekeza account to fund his lavish lifestyle.

The Sacco was also accused of sharing office space and bank accounts with Gakuyo Real Estate Company, which apparently was also owned by the pastor turned politician.

In an attempt to recover the Ksh.1billion supposedly lost, Gakuyo had said he would sell some of his buildings, hotels and lands in Nairobi and other parts of the country.

While speaking to journalists, Mr Gakuyo assured all members that they would get back their money. He had earlier given a deadline of June 13, 2019.

The 53,000-member Sacco operates 26 local branches.

With Ksh.2.56billion in deposits, the sacco saw its licence reinstated by the Chair of Commissioner of Cooperatives Mary Mungai after it was cleared of all allegations.

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Story By Nigel Wafula
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