The State Minister for Micro-Finance, Harunah Kyeyune Kasolo, has given Buvuma district officials up to two weeks 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 shs 500million under the program. The Saccos saved more than shs 200 million within nine months bringing the total to shs 700 million. However, almost all the money was disbursed to the borrowers.
Only about 11 percent of the money has been recovered.
Kasolo said 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 Shs 3 million from the Persons with Disabilities Sacco, Juliet Mbabazi, the Chairperson of Women Entrepreneurs Sacco took shs5million, the LC 5 Chairperson, Adrian Ddungu took shs 5million from the leader’s Sacco and its chairperson Charles Isu shs 9million.
However, none of the leaders has tried to service their loans since the project began.
Kasolo noted 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, said that the Saccos received less than shs 30 million to loan to the 30 members.
She noted that despite the money seeming to be enough, 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, the would be beneficiaries insisted that money is shared among leaders without any effort to compel them to pay it back.
Jamadah Nkambwe noted that Sacco chairpersons dish out loans to their relatives who are not even Sacco members.
Kasolo however warned 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.