Drama ensued at the offices of B-Smart Sacco Limited after angry members stormed the office causing commotion and disruption of business of the day. Unaware of what the irate members had plotted, Sacco officials and staff were stunned after the members stormed the office demanding a refund of their savings. Most of the B-Smart Sacco members are small-scale traders in the Gikomba market in Nairobi.
Members claimed that their demand was occasioned by the failure of Sacco management to approve loans and blocked them from withdrawing their savings. According to the members, Sacco has not disbursed loans for two years now and the management has declined to give them back their savings. The commotion at the banking hall came as a total shock for the Sacco CEO who locked herself in the office; she was later rescued by the police when irate members started baying for her blood.
According to Leah Wangechi who joined the Sacco six years ago, she had deposited over Ksh. 1.4 million in savings but cannot withdraw her savings and has never been given a loan, she applied for the loan almost one year ago.
According to some of the members, the Sacco management has been giving excuses that the C.E.O. has not yet signed the loan application forms hence the delay. Another member Mary Njoki said she has not been able to withdraw her savings and Sacco has failed to solve the member’s financial needs.
One of the officials claimed that they have not been able to process loans since the Sacco was badly hit by Covid-19 and also the 2022 general elections.