NWOYA-Nwoya district commercial office is struggling to recover a total of 513 million disbursed to various groups. The district has 32 Emyooga SACCOs established in the constituencies of Nwoya County and Nwoya East Constituency.
Emyooga, a presidential initiative launched in August 2019 is part of a broader government strategy targeting market-oriented production with the overall objective of creating wealth and jobs for the unemployed Ugandans.
Godfrey Odoki Ocitti, the acting commercial officer said the district in 2021 received One Billion Shillings with each of the two constituencies receiving Shs 500mln for Emyooga SACCOs.
Odoki said that they have only recovered Shs 79mln from all the 32 SACCOs and savings of Shs 408mln, leaving Shs 513mln with the SACCO members.
Odoki said local political leaders who received Shs 50mln for their SACCO last year and have not refunded it, making it the worst performing SACCO1 while the best performing so far is market vendors SACCO from which most of the Shs 79mln was recovered.
According to Odoki, most of the SACCO members invested their money in agriculture, which was heavily affected by the drastic changes in weather patterns that resulted in low yields. He notes that the SACCO members signed a recommitment to refund the money next month.
Whenever we try to engage the SACCO leaders, they tell us that they don’t have money because they invested their money in agriculture, which was heavily affected by unpredictable weather patterns,” Odoki said.
Emmanuel Orach, the Nwoya district LCV Chairperson said that a series of engagements have been ongoing with his colleague leaders to ensure that the funds are refunded for other people to borrow.
Orach said that while others invested their money into agriculture, others misused the funds with the perception of it being a political appreciation.
Christopher Omara, the Nwoya resident district commissioner says an audit into all the registered SACCOs is ongoing, adding a forensic audit by an external auditor will be done, in addition to the compilation of lists of individuals who borrowed the funds but have not paid back.
Omara said that operation would start with the political leaders’ SACCO who instead of being leaders are being misleaders in regard to refunding revolving funds which should as well be borrowed and used by other leaders.
https://thecooperator.news/emyooga-saccos-urged-to-apply-for-permanent-registration/
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