Nairobi, April 9 -- A Nairobi-based savings cooperative is racing against time to sell land and secure a foreign loan to settle a Sh183 million debt by the Kenya Union of Savings and Credit Cooperatives (Kuscco), after a tribunal granted it three months to present a repayment plan.

The Cooperative Tribunal ordered Kencom Savings and Credit Cooperative Society to negotiate with its creditor, Kuscco, and table a "reasonable payment plan" within 90 days.

In the dispute that highlights the financial strain facing some cooperatives, the tribunal also declined to lift the warrants of arrest against the Sacco officials, ruling they had not proved they were no longer in office, and instead suspended the warrants for three months to allow the Sa...