The entrance to KPCU offices at Wakulima House in Nairobi. FILE PHOTO | NMG
The State has issued a gazette notice to liquidate the
much-looted Kenya Planters Co-operative Union (KPCU), setting the stage
for an independent assessment of the financial health of the troubled
farmers union and subsequent disposal of assets.
Acting
commissioner for Co-operative Development Geoffrey Njang'ombe has
picked a team of four officials to oversee the liquidation process to be
completed over the next six months. Likely to be forgotten in the
process are billions owed to KPCU by prominent businessmen and
politicians, some dead, advanced as loans.
“I do
appoint Stephen Kamau Njoroge, Assistant Director of Co-operative Audit
of Nairobi, Doris Wangui Githua , Principal State Counsel of Nairobi,
Anthony Maina Waithaka, Principal Co-operative Auditor of Murang'a
County and Joyce Nkirote Kinuu , Senior State Counsel of Nairobi to be
joint liquidators for a period not exceeding six months and authorise
them to take into their custody all the properties of the said union,
including such books and documents as are deemed necessary for
completion of the liquidation,” said Mr Njang'ombe in a notice dated
August 2, 2019.
Trade and Industrialisation Cabinet
Secretary Peter Munya had earlier communicated the intent to liquidate
the poorly managed and debt-riddled firm owing to corruption and
mismanagement.
“Apart from mismanagement and
corruption, the union has also failed to comply with the provisions of
the Cooperatives Act on proper management of coffee farmers’ assets,
which is why we are liquidating it,” Mr Munya said on August 2 while
announcing the basis for liquidation.
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