FOR IMMEDIATE PRESS RELEASE 3/3/2025: AWE DIASPORA SACCO CLARIFIES MISINFORMATION IN RECENT MEDIA REPORTS
FOR IMMEDIATE PRESS RELEASE
3rd March, 2025
AWE Diaspora Sacco Clarifies Misinformation in Recent Media Reports
Nairobi — In response to recent media coverage regarding the dissolution of AWE
Diaspora Sacco on People Dairy on 26th February, we wish to address inaccuracies
and provide clarity to our members, stakeholders, and the public.
Contrary to claims of “billions in member savings,” AWE Diaspora Sacco was a
small, voluntary cooperative society with fewer members. Established during the
COVID-19 pandemic, the Sacco remained largely unknown and operated on a
modest scale targeting Europe Diaspora, with all members actively engaged in fulltime careers. Awe Sacco is an independent entity and is not a member of KUSCO.
In April 2024, during a formal Annual General Meeting (AGM), members
unanimously voted to dissolve AWE Diaspora Sacco after determining that its
operational model was unsustainable. This decision was made transparently and
collaboratively, reflecting the collective agreement of all Memebrs thorugh voting.
No member has raised concerns about the safety of their savings, as all funds are
fully accounted for. The dissolution process is being conducted in compliance with
regulatory requirements of Ministry of Cooperative , including a final audit. Upon its
completion, all remaining funds will be distributed to members proportionally through
the liquidator that was announced. “The liquidator I apppointed and Gazetted, Susan
Ong’ondi Assitant commisionar of Co operative Development is in the process of
presenting the statement of affairs. There is no cause for alarm regarding financial
losses from all Audit presented in the past” Said the David K. Obonyo, Commissioner
for Co-operative Development.
AWE Diaspora Sacco has always prioritized integrity and member welfare. We regret
any distress caused by misleading narratives and reaffirm our dedication to resolving
this matter fairly. Members will receive direct updates as the Liquidator concludes.
For media inquiries, please contact:
Communications Lead Awe Sacco
Email: admin@awesacco.com
