The once vibrant National Hospital Insurance Fund Sacco is on its deathbed as it can no longer meet its financial obligations; sources within the Sacco have told The Weekly Vision. Investigations reveal that Sacco members have been withdrawing from the troubled Sacco citing failure by the management to run it professionally. But even as members withdraw for other well-managed Saccos, the biggest challenge has been getting back their shares now running into millions of shillings.
For Instance, some members who withdrew from the Sacco as far way back as 2014 are yet to get back their shares. One disgruntled member identified as Catherine Wanjiku Ilovi who was a member No.00768 had a contribution totalling Ksh. 486,500 until 2014 when she decided to withdraw. Investigations further reveal that NHIF Sacco partially paid her Ksh. 210,000 leaving a balance of Ksh. 276,000 which has not been paid to date. In January 2022 when she piled more pressure on the management demanding her balance, they informed her of their liquidity and financial issues causing unwarranted delays in refunding back the shares.
The Sacco management in a written response to Wanjiku reported that the Sacco is overwhelmed by the financial demands from members. Further, the management requested that they are willing to offset the balance by paying monthly instalments until payment is completed in full.
But the big question is why NHIF Sacco failed to remit any payment from when the last instalment was made to her. Sacco records indicate that the member withdrew her membership in 2014 and the Sacco made payments in September 2017, May 2019 and July 2019 but since then to date, no payment has Sources say, there are several such cases of members who withdrew even in 2010 and are yet to get back their shares, some have passed on.