A savings and credit society for police officers yesterday fought off reports that it was in the red.
At a press conference, the Kenya National Police Deposit Taking Sacco leadership at the same time announced that it was commencing investigations to establish the source of the claims that the Sacco was experiencing cash flow problems.
The Sacco’s chairman, David Mategwa maintained that the Sacco is stable and discharging its responsibilities as a deposit taking institution for the members efficiently.
“We have been having misinformation on social media. We saw a news clip on one local TV station last evening reporting how the Sacco police have problems.
“But I want to assure members and the general public that the Sacco is stable and there is no cause for any alarm. There is completely no problem as reported,” he told journalists.
Mategwa however conceded that the Sacco had experienced a “small technical hitch” in one of the mobile Apps, which had been resolved.
“We had a small problem on one of the Mobile Apps, and the system slowed down because of the traffic as many people were trying to withdraw money after we loaded their salaries,” said Mategwa.
Besides the Sh753 million withdrawn through the mobile application, he said members withdrew Sh85 million through the Automated Teller Machines (ATM), and Sh98 million over the counter in the eight branches.
