MUSCO Assets Undervalued: Depositors

3,000 members of Moi University Staff Sacco MUSCO held demonstrations in Eldoret town to protest the manner in which their assets are being handled.The Sacco was put under liquidation by the Commissioner for Cooperatives and the members are accusing the liquidator of undervaluing their assets. They are asserting that MUSCO Towers is worth 2 billion and not 400 million as the property has been listed for.Depositors have lost access to their savings and credit facilities since the sacco was put under receivership. Members are not convinced that the receiver is taking sufficient steps to mitigate losses.

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