The State Minister for Micro-Finance, Harunah 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 Emyoga 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
Buvuma district shows that
the Commercial Officer Sam Zzimbe received Shillings 3 million from the Persons with
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
However, none of the
leaders has tried to service their loans since the project began.
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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
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
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, others would be beneficiaries who 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 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.