Nairobi, Jan. 29 -- The government has picked a new chief executive officer (CEO) to run the Kenya Union of Savings and Credit Co-operatives (Kuscco), seizing control of the troubled umbrella organisation, which is still reeling from a Sh13.3 billion financial scandal linked to some of its former officials.

Official correspondence seen by Business Daily revealed that Peter Wanjohi Kiama, the Deputy Commissioner for Cooperative Development in the State Department for Cooperatives, has been seconded as CEO of Kuscco for three months, replacing Arnold Munene, who held the position.

Arnold Munene:The man with unenviable job of rescuing Kuscco from financial doldrums after heist

"It has been decided that you be seconded to the Kenya Union o...