The Independent Uganda: You get the Truth we Pay the Price
Buvuma, Uganda | THE INDEPENDENT | The State Minister for Micro-Finance, Haruna Kyeyune Kasolo has given Buvuma district officials a two-week ultimatum to return the money they borrowed from various Savings and Credit Cooperative Societies-SACCOs under the Emyooga program. According to information obtained by URN, 16 Saccos in Buvuma district received Shillings 500million under the program. The Saccos saved more than Shillings 200 million within nine months bringing the total to Shillings 700 million.
However, almost all the money was disbursed to the borrowers. Only about 11 percent of the money has been recovered. Now, Kasolo says that they have discovered that the poor recovery of the money does not come from the investments made by Sacco members but borrowers, mainly political and technical leaders taking huge big loans.
He revealed that the audit conducted in Buvuma district shows that the Commercial Officer Sam Zzimbe received Shillings 3 million from Persons with Disabilities Sacco, Juliet Mbabazi, the Chairperson of Women Entrepreneurs Sacco took Shillings 5million, the LC 5 Chairperson, Adrian Ddungu took Shillings 5million from the leader’s Sacco and its chairperson Charles Isu took Shillings 9million.
However, none of the leaders has tried to service their loans since the project began.
Kasolo notes that technical officials are not supposed to benefit from Emyoga funds. Those earmarked to benefit from Emyoga include boda bodas, women entrepreneurs, carpenters, salon, taxi, and restaurant operators, welders, market vendors, youth leaders, PWDs, produce dealers, mechanics, tailors, media operators, fishermen, and the performing arts associations.
Mbabazi, the women’s chairperson says that the Saccos received less than Shillings 30 million to loan to the 30 members. She notes that the money sounds big but it is insufficient to go around to all members to make the meaningful investments to pay back.
Buvuma LC V Chairperson Ddungu says that the loan recovery is not failing because of the loan he took but the poor monitoring of the projects of the beneficiaries. However, other would be beneficiaries insist that money is shared among leaders without any effort to compel them to pay it back.
Jamadah Nkambwe notes that Sacco chairpersons dish out loans to their relatives who are not even Sacco members. Kasolo says that after the expiry of the two-week ultimatum, he will be compelled to order the arrest of the district officials who keep on giving excuses instead of paying back the money they borrowed.
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