By Enos Masereka,
Residents of Busongora County North in Kasese district are calling for investigations under which 226 million shillings was stolen from Mt. Rwenzori slopes Sacco Ltd in Busongora County North between 2019-2023.
It’s alleged that between 2019-2021, the Sacco Manager by then late Muthethu Masereka embezzled 73 million shillings, his successor Mr. Gilbert Masereka over one hundred million shillings, while the rest is being held by members inform of loans.
Presenting a forescenic Audit report from Mutungo and Partners certified Public accountants during the AGM held at Rugendabara town council offices yesterday, Mr.Blasio Mutungo said the money was embezzled between 1st Jan 2019-March 2023. Mr. Blasio speaking….
Kasese Deputy RDC in charge of Busongora County, Mr. Zephanus Mubingwa, urged members who took loans procedurally to refund the money within one month and continue saving in the Sacco as police investigates the matter.Mr. Mubingwa speaking…
Mr. Joshua Byabojo, the new chairperson board of directors, Mt. Rwenzori slopes Sacco Ltd, attributed the loss to poor supervision and monitoring by his predecessor. Mr. Byabojo speaking….
Kasese District Principal Commercial officer, Mr. Simon Kasereka, asked members to revamp the Sacco and lobby for more funding from government, saying under the Uganda Microfinance cooperative act, any member who fail to recover the loan risk Five years imprisonment.
Mr. Simon speaking…….
He urged members of the Sacco to become cooperative while carrying out investigations. END.