Police SACCO members to access savings in March, 2020

Kampala, Uganda | THE INDEPENDENT | Members of the Uganda Police Exodus SACCO will be able to withdraw their savings, within two months, after the reorganization of the scheme, according to the Uganda Police Force.

The Police Exodus Cooperative Savings and Credit Society, with a share capital of 20 billion shillings has been marred with controversies in recent months. During the time, members were not able to access or withdrawal their savings, arousing controversy on its management and panic among its members, composed of Uganda Police personnel and their families.

The SACCO chairperson, Assistant Superintendent of Police Henry Kalulu was singled out for mismanaging finances and accountability of the scheme. Initial reports indicated that the 10-year-old Sacco had lost over five billion Shillings. Last week, Senior Commissioner of Police, Wilson Omoding was elected the chairperson replacing Henry Kalulu.

Police spokesperson Fred Enanga told a press conference at the police headquarters in Naguru that the management of the SACCO is currently reviewing the accounts and will soon look at the finances and expenditures to ascertain irregularities and how to address them.

Enanga said that the SACCO members will be updated on a monthly basis and allowed to access their savings with effect from March 1, 2020, after the transition has been streamlined.

Enanga says that the chairperson has assured the SACCO members of their money and the future of the SACCO. He says that the day-to-day running of the SACCO will resume on January 20, 2020 and several things are being put in place to restore confidence and hope in the SACCO.

He says the new team at the SACCO will look at all the allegations and disciplinary matters raised in regards to the SACCO management and funds.

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