KUSCCO to Auction 42 Properties in November
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) Ltd, which is under liquidation, is set to auction 42 properties across the country in November as part of efforts to dispose of its assets.
The properties include vacant plots, residential apartments, maisonettes, bungalows and commercial buildings spread across several counties, including Nairobi, Kajiado, Kiambu, Mombasa, Kisumu, Machakos, Meru and Kilifi.
Watts Auctions will conduct the sales through three regional auctions scheduled for November 11, 20 and 27, according to a published notice.
“The properties on offer range from vacant plots to residential and commercial developments in various parts of the country,” the notice states.
“The portfolio also includes rental buildings, incomplete houses and commercial developments under construction.”
The first auction will cover Nairobi, Central Kenya, Kajiado and the Mount Kenya region on November 11. The sale will take place at Watts Auctions’ offices on the ninth floor of View Park Towers in Nairobi.
Properties in Western Kenya, Nyanza, the Rift Valley and Kisii regions will be auctioned on November 20 at the public park near Absa Bank in Kisumu.
The Coast region sale is scheduled for November 27 at Watts Auctions’ offices at Canon Towers in Mombasa.
The advertised portfolio includes vacant plots in Kitengela, Olturoto, Joska and Komarock. Residential properties include a four-bedroom bungalow in Kajiado, a maisonette in Kiambu and an apartment at Kirichwa Gardens in Nairobi.
Other assets include a motor vehicle workshop in Kisii, rental buildings in Kisumu and other locations, as well as a commercial block under construction.
The portfolio also features several incomplete residential developments at different stages of construction.
The properties may attract individual buyers, property developers and investors seeking rental income. However, their value will depend on factors such as location, physical condition, legal status and the prices achieved during the auctions.
The notice does not disclose the combined market value of the properties, individual reserve prices or the expected proceeds from the sales. It also does not indicate how much of KUSCCO’s outstanding liabilities the disposals are expected to cover.
The planned auctions form part of the broader process of winding up KUSCCO following attempts to revive its finances.
The organisation’s members voted to dissolve it in August 2026 after efforts to restore its financial position failed.
The Commissioner for Co-operative Development subsequently cancelled its registration and ordered its liquidation, appointing a three-member team to oversee the winding-up process.
A government-appointed forensic audit found KUSCCO insolvent, with liabilities estimated at Sh17 billion against an asset base of approximately Sh5.4 billion.
The institution’s financial difficulties were linked to alleged mismanagement and irregularities that left affiliated savings and credit co-operative societies (SACCOs) facing substantial potential losses.
Commissioner for Co-operative Development David Obonyo said KUSCCO could no longer meet its financial obligations.
The liquidation process is intended to convert the organisation’s remaining assets into cash, settle verified claims according to applicable legal priorities and distribute any available proceeds.
