Afya Sacco Sends CEO Felix Ndoi Home, Allegedly Over Loss of Funds

And in an interesting twist, the acting CEO Mr Gisemba hails from the same county as the Sacco chairman Beatrice Mogire, which brings in the tribalism equation that has plagued the society for some time now

Investigations

The Afya Sacco’s Central Management Committee (The Board) has reportedly sacked their Chief Executive Officer (CEO) Mr Felix Ndoi for allegedly presiding over the loss of more than Kshs. 2.7 billion, The Weekly Vision Online can authoritatively reveal. The board replaced him with the Internal Financial Controller Peter Gisemba in an acting capacity.

A source within the Sacco told The Weekly Vision Online that Mr Gisemba is expected to be confirmed into the position by the board anytime within the next two months, just before the ADC in April, bringing an end to Mr Ndoi’s stormy tenure.

Mr Felix Ndoi

And in an interesting twist, Mr Gisemba hails from the same county as the Sacco chairman Beatrice Mogire, which brings in the tribalism equation that has plagued the society for some time now. The outgoing CEO is said to have planted his tribe’s people in powerful and influential managerial positions at the Sacco, for instance, he made Maurice Mutuku the banking and operations chief while Mr Alfred Munyao became the Public and Customer Relations boss, among many others.

According to multiple insider sources within the CMC Mr Ndoi was on a list of senior managers who were to be sacked by the board under the chairmanship of former chair, the lake Vitalis Lukiri for their part in the loss of billions of shillings, but he somehow survived. The sackings targeted about 15 employees led by the then Deputy CEO and General Manager administration Livingstone Sakwa, former Risk Management General Manager Wycliffe Mworia and the ICT manager, Mr Ndoi’s relative Bernard Musyoki.

Chair Beatrice Mogire

The board also blames Mr Ndoi for running the giant Sacco as a personal entity by making crucial decisions without the authorization or involvement of the board.  The immediate former chairman P.K. Kiptoo who is still a member of the CMC said: “The decision to send Mr Ndoi packing was reached at as early as November last year when he was sent on compulsory, but now the board has officially ratified his sacking.”

Mr Kiptoo said that it was during Mr Ndoi’s tenure when an independent external audit made revelations to the effect that the Sacco lost more than Kshs. 2. 789, 500 billion through rampant corruption and dirty deals, gross mismanagement and outright lootings through inflated tenders and thefts since 2018.

To be continued…

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