METROPOLITAN SACCO MEETING STALLS AMID FINANCIAL CRISIS CONCERNS.

A Kiambu-based Sacco’s Annual General Meeting ended in disappointment after organizers abruptly announced that the required quorum had not been reached, forcing the event to be called off.

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The AGM for Metropolitan Sacco in recent years has been battling severe financial challenges and was placed under receivership by the Co-operative Bank— had been scheduled at Sts Peter and Paul Primary School grounds. By 1 p.m., the meeting had yet to begin, prompting impatient members to demand an explanation.

Metropolitant Natuonal Ltd Sacco headoffice Kiambu town.

It was then that the Presiding Board Chairman informed members that the statutory quorum had not been met, warning that proceeding without it could expose the Sacco to potential court cases. He assured them a new date would be communicated once arrangements were finalized.

Disappointed members walked out, accusing the board of insensitivity, noting that many had travelled long distances hoping to get first-hand information on the Sacco’s troubled financial status. They expressed frustration over delayed deposit refunds and voiced fears that the institution might be on the brink of collapse if urgent action was not taken.

Efforts to get a comment from the Sacco’s management were unsuccessful.

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