KUSCCO Invites Kenyans for Auction of Its Properties: Here Is All You Need to Know
Kenyans looking to invest in real estate or purchase a new home have a fresh opportunity, as the Kenya Union of Savings and Credit Co-operatives (KUSCCO) is inviting the public to a major property auction.
The event, scheduled for Wednesday, April 30, 2025, aims to raise funds as part of a broader strategy to recover billions lost to fraud.
The auction will take place at View Park Towers, 9th Floor in Nairobi, beginning at 11:00 a.m., and is expected to attract a large number of prospective buyers and investors.
Why Is KUSCCO Selling Its Properties?
KUSCCO, the national umbrella body for SACCOs across Kenya, is recovering from a significant financial scandal. Earlier this year, a government-commissioned forensic audit revealed that its former leadership had falsified financial statements, leading to the loss of KSh 13 billion in member funds through fraudulent activities.
In response, Cabinet Secretary for Co-operatives and MSME Development, Wycliffe Oparanya, ordered investigations and assured the public that every effort would be made to return the stolen money. This auction is a major step toward that promise.
What Properties Are Being Auctioned?
The properties listed for auction are located in Kiambu, Kajiado, and Machakos—regions known for their growing real estate value and proximity to Nairobi. KUSCCO has assured the public that these are prime properties, and that due diligence has been carried out in preparation for the sale.
“We invite investors and home buyers to our upcoming auction. At KUSCCO Ltd., we uphold professionalism and transparency in every property auction,” reads part of the official public notice.
Each property has undergone full valuation by licensed professionals. Comprehensive land searches have also been conducted to confirm ownership, land status, and any existing claims or encumbrances. Additionally, auctioneers have visited the properties and spoken with current owners prior to the sale notice, according to KUSCCO.
How Will This Help Affected SACCOs?
The Sacco Societies Regulatory Authority (SASRA) has valued KUSCCO’s current assets at KSh 5 billion, which are now being used in the recovery process.
Speaking in March 2025, SASRA CEO Peter Njuguna confirmed the properties are part of the asset pool meant to help reimburse affected SACCOs. In a separate interview with TUKO.co.ke, Kenya National Police DT Sacco CEO Solomon Atsiaya stated:
“KUSCCO has made impressive progress in recovering the money. The assets being sold are meant to bail off small SACCOs that were hit by the lost funds.”
What Are the Auction Requirements?
To participate in the auction, here’s what you need to know:
- Property Viewing: Interested buyers are encouraged to view the properties between 10:00 a.m. and 5:00 p.m. before auction day.
- Bidder Deposit: To obtain a bidder number, participants must submit a refundable deposit of KSh 500,000 in the form of a banker’s cheque.
- Down Payment: A minimum 10% deposit of the purchase price must be paid immediately after a successful bid, in cash or via banker’s cheque.
- Balance Payment: The remaining amount must be settled within 90 days of the auction.
- Sale Conditions: All sales are subject to:
- A reserve price
- Any necessary Land Control Board consent (where applicable)
- Overriding interests that may be registered against the properties
KUSCCO emphasizes that all interested parties must conduct their own verification of property details. Neither the auctioneers nor KUSCCO will be liable for inaccuracies in property descriptions or claims.
What This Means for You
This auction presents a rare opportunity for Kenyans to invest in valuable property, especially those in the market for a home or long-term investment in real estate. The properties are located in fast-growing counties, and KUSCCO has taken key steps to ensure the process is transparent and professional.
At the same time, the sale supports a broader mission—rebuilding trust in SACCOs and restoring the financial security of thousands of affected members across the country.
Whether you’re an investor looking for your next project or a first-time homebuyer in search of value, this auction may offer just what you’re looking for.
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KUSCCO Invites Kenyans for Auction of Its Properties: Here Is All You Need to Know
