KAMPALA, May 14, 2025 –– Police Exodus SACCO has recognised Assistant Inspector General of Police [AIGP] and Director of Crime Intelligence, Christopher Damulira, for his outstanding efforts in mobilising police officers to join the SACCO.
The recognition came during the 12th Annual General Meeting [AGM] held recently at Police Headquarters in Naguru, Kampala. AIGP Damulira was honoured for recruiting the highest number of new members, significantly boosting the SACCO’s membership, savings, and capital base.
Inspector General of Police [IGP] Abbas Byakagaba, speaking at the event, noted that increasing membership in the SACCO was crucial for improving financial inclusion and economic empowerment among police officers.
“AIGP Damulira’s mobilisation efforts are part of his broader commitment to community policing and engagement with vulnerable groups,” said Byakagaba. “He has also been instrumental in donating motorcycles to boda boda riders in Nansana, helping to empower them economically and reduce their susceptibility to criminal exploitation.”
For his exceptional service, Damulira was awarded the Exemplary Order of Service Class 2 medal – the second-highest honour in the Uganda Police Force, in recognition of his leadership, professionalism, and commitment.
Expressing his gratitude, Damulira said: “I am privileged to have been honoured by the IGP and the leadership of Exodus SACCO for my tireless efforts to mobilise officers under my Directorate and across the force to save through Exodus for their financial security and wellbeing. I will not relent, because I believe this is the path to improving our lives.”
The AGM was a celebration of excellence, honouring outstanding members and staff for their dedication and contributions to the growth and management of the SACCO.
Other award recipients included:
- IGP Abbas Byakagaba – Patronage Award, for exceptional support to the SACCO leadership.
- AIGP David Wasswa Ssengendo – Highest Saver of the Year.
- SGT John Rejium Okello – Second-Highest Saver of the Year.
- ASP Gift Kemigabo – Female Shareholder of the Year.
- CPL Prasten Abaho – Male Shareholder of the Year.
- SP Zainab Numuyindwa [Mbale Delegate] and IP Mashallaah Awazi [Bugiri Delegate] – Delegates of the Year.
- SSP Jackson Musinguzi and SP Azizi – Goodwill Ambassadors.
Members applauded the SACCO leadership for implementing several resolutions from the previous AGM.
In his address, SACCO Board Chairperson SCP Dr Wilsom Omoding Otuna commended the management and staff for their commitment.
“I wish to express my sincere appreciation to the Board of Directors, Supervisory Board, management and staff for their dedication and tireless efforts in steering the SACCO forward. Your leadership is the foundation of our continued success,” he said.
Proposals for Financial Year 2025
During the meeting, the Board proposed a dividend payout of 15 percent of the annual surplus – amounting to Shs 829,777,400, to be distributed at a rate of Shs 442 per share. Of this, 80 percent will be deposited into members’ share accounts and 20 percent into their savings accounts.
The Board also propsed a strategic diversification plan, proposing the creation of an investment arm focusing on production, manufacturing, agroforestry, real estate, and other revenue-generating ventures. An initial capital injection of Shs 1 billion was proposed to support this initiative, with the aim of generating alternative income streams and strengthening liquidity.
Additionally, the Board recommended a structured savings model, requiring members to contribute 10 percent of their monthly salary to their SACCO savings account. Members would, however, be allowed to withdraw up to 50 percent of their contributions at any time, to cater for their needs.
Parliamentary oversight and recommendations
In 2024, Parliament conducted an audit into the financial management of Exodus SACCO. The findings led to several recommendations, including halting the mandatory deduction of officers’ savings into the SACCO.
The audit revealed a lack of oversight by District Police Commanders in transmitting members’ contributions to headquarters, posing a significant risk. It also found that member shareholding was not clearly recorded and that contribution data since the SACCO’s inception was insufficient.
Additionally, the audit committee recommended the establishment of a formal policy to govern the claiming of savings for deceased police officers, a gap that had previously gone unaddressed.
https://thecooperator.news/tayebwa-directs-probe-into-police-sacco/
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