The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Mukono municipality commercial officer Minisa Namukose has instructed banks to stop disbursing money to Savings Credit and Cooperative Societies-SACCOs registered under the Emyooga initiative.
This follows irregularities unearthed during the assessment of the program by Members of Parliament.
The government disbursed 560 Million Shillings to Mukono municipality to be shared among 18 groups. However, the ongoing assessment on the operations of the program by MPs discovered that none of the Saccos in the municipality returned the money. It was also established that funds were disbursed to the accounts before the registration of Saccos.
Namukose says that they will make inquiries before the banks resume disbursing funds to the Saccos.
“Majority of people who borrowed are not returning money yet there also others entitled to borrow the same money. This money is an evolving fund returned in not more than six months for others to benefit. The move is aimed at recovering and putting to good use government money.”
Ann Mary Kayitiro, the Chairperson of Mukono Municipality Women’s Entrepreneur’s Sacco says that the delays to disburse the funds is affecting the operations of the Sacco. She notes that saving without withdrawing money will affect saving.
Betty Nambooze, the Mukono Municipality MP says commercial officers should be held responsible for the anomalies.
Similar irregularities have been cited at Mukono district local government. The district registered 1,093 associations forming 51 Saccos in Mukono North, Mukono South and Nakifuma County.
Andrew Lutalo, an officer from the Uganda Microfinance Support Center-UMSC sent to Mukono to provide necessary information to the MPs has defended the initiative saying they booked the accounts before disbursing the funds as they waited for the Saccos to open accounts.
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