Aronda Warns Thieving SACCO Bosses

visit malady geneva;”>Gen. Aronda made the remarks over the weekend during the Annual General Meeting (AGM) for Buyanja SACCO at Sub county headquarters in Rukungiri district.

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“I want to assure members of the SACCOs across the country that nobody will embezzle their savings again because the long arm of government will get them,” he said.

The minister’s warning followed a concern raised by the district chairperson, Charles Byabakama that some SACCOs have closed in Rukungiri after their management committees embezzled all the funds contributed by the members.

Nyakairima also advised management to employ technical and competent staff such that when they embezzle public funds, they will not have any excuse that they did it ignorantly.

The minister bought 50 shares in the SACCO worth Shs 1 million and warned that since he has become a member and is in charge of police and prisons, he will arrest anybody who will dare to embezzle the SACCO funds.

Similarly, Dr. Maxwell Adea, a commissioner in the ministry of Planning and Economic Development, Microfinance department, said that government is committed to supporting the SACCOs if they register progress.

“The case of leaders misusing members’ funds is the main and only reason that ‘kills’ SACCOs in this country,” Adea noted.

The SACCO manager, Edison Agaba revealed that they have 2,591 members with a share capital of Shs 275,065,000 million and that by the end of November 2013; they had disbursed Shs 1.4 billion in loans.

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