Slow pace of opening bank accounts delays transfer of PDM money to beneficiaries

ADJUMANI – The slow process of opening and verifying individual bank accounts has delayed the transfer of the Parish Development Model [PDM] funds to the beneficiaries in Moyo, Obongi, and Adjumani districts.

In Moyo district, until May 29, 2023, only a few beneficiaries had started accessing the money in their individual accounts from the PDM SACCO accounts.

The resident district commissioner Moyo, Goffin Gore confirmed that officials dealing with the PDM money want to go slow so that they avoid mistakes that would cost the district.

“We took long to start giving money because the process of account opening is very crucial and we want to ensure the rightful beneficiaries are clearly verified to avoid non-beneficiaries from taking advantage,” Gore said.

According to Moyo district production officer, Dr. Christopher Dratele who doubles as the PDM focal person, close to Shs 1.4018 billion had been approved by the end of May, adding that Shs 319 million has been verified for disbursement to the different individual accounts.

According to him, a total of Shs 32mln was remitted to each parish SACCO in the 45 parishes in Moyo district.

In Obongi district, Liwa-Gimara SACCO has failed to receive money in their account since last financial year after receiving only Shs 7.2mln

The district production officer, Godfrey Opigo who is the focal person for the PDM explained that so far, by the end of May 31, 2023, 25 PDM SACCOs out of the 28 PDM SACCOs in the district have started disbursing money to beneficiaries while two PDM SACCOs are pending verification.

“The only SACCO that has not received money is Liwa-Gimara PDM SACCO, we have written to the ministry of finance planning and administration but we have not yet gotten any feedback,” Opigo revealed.

Opigo said the government approved Shs 2.8 billion this year adding that last financial year each PDM SACCO received Shs 7.2 million and the total money expected to be remitted to each SACCO is Shs 107.2 million.

Meanwhile, in Adjumani district, the district LCV chairman, Ben Anyama said the government approved Shs 6bln for the district, and already Shs 3.4bln has been received by the PDM SACCOs, even though about Shs 2bln has been disbursed to the individual accounts.

“Although the process of account opening has been a nightmare we have managed to expedite the process with the banks for our beneficiaries because most of them are farmers, and we know that this is the season for them to plant,” Anayama said.

Mary Dulua from Adropi Sub-county, Adjumani district who has been frequenting the bank for the last two months attested that she was among the first people to open bank accounts, but is not sure whether money has been sent to her account.

“I now have my account opened, I don’t have the pin number to check my account,” Dulua stated

Calvin Idha the chairperson of Ofu-Sub PDM said some of their members have failed to access their money because they have not opened bank accounts.

“Some of our members do not have their National Identity cards, which is a requirement in the bank,” Idha stated.

Adjumani district has 56 parishes, nine sub-counties, and 2 town councils, the farmer groups in Adjumani have selected twelve enterprises which among others include; growing soybean, maize, beans, aquaculture, fish farming, and produce buying and selling.

President Museveni launched PDM in February 2022 in a bid to alleviate household poverty.

The model is intended to lift at least 17mln Ugandans in approximately 3.5mln households out of poverty through the transformation from a subsistence economy to a money economy.

The revolving fund goes directly to the SACCO accounts in each parish, from which households can borrow and invest in income-generating activities.

https://thecooperator.news/equity-bank-starts-disbursing-funds-to-pdm-saccos/

Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news