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The Kenya National Police Deposit Taking Sacco has strongly refuted allegations of financial instability that have been circulating on social media and in a recent news report from a local television station.
During a press conference, Sacco Chairman David Mategwa assured members and the public that the institution remains financially stable and continues to operate effectively.
Mategwa addressed the rumors, which suggested that the Sacco was experiencing cash flow issues, describing them as baseless and unfounded. He confirmed that an investigation is underway to determine the source of these misleading claims, which have caused unnecessary concern among Sacco members.
“Our Sacco is sound and stable,” Mategwa stated emphatically. “We are fully operational as a deposit-taking institution, and there is absolutely no cause for alarm.”
He further clarified that the misinformation may have stemmed from a minor technical issue with one of the Sacco’s mobile applications, which has since been resolved. Despite this temporary glitch, the Sacco has successfully processed significant transactions for its members.
In the past few days, members have withdrawn KSh 753 million via the mobile app, KSh 85 million through ATMs, and KSh 98 million over the counter at the Sacco’s eight branches nationwide. These figures, Mategwa highlighted, are a testament to the Sacco’s robust financial health and its continued ability to meet the needs of its members.
The chairman’s reassurances were aimed at quelling any fears and restoring confidence among the Sacco’s members, who include police officers and other law enforcement personnel. Mategwa also urged members to verify information directly from official Sacco channels rather than relying on unverified reports from social media.
As the Sacco continues its investigation into the origins of the false claims, Mategwa reiterated the institution’s commitment to transparency and accountability, ensuring that members are kept informed of any developments.
The Kenya National Police Deposit Taking Sacco remains one of the key financial institutions serving the needs of Kenya’s law enforcement community, and its leadership is committed to maintaining its reputation for reliability and trustworthiness
