By Editorial,
An audit report on the operations of Mbarara Central Market Vendors Savings Cooperative Society has found that part of the money donated by President Museveni cannot be traced.
The SACCO received sixty million shillings from the president as a donation for startup capital.
According to an external audit report, over 39 of the 60 million shillings could not be traced or accounted for by those running it.
The report from the 2022/23 to the end of the 2023/24 financial year was presented to the members and shareholders of Mbarara Central Market Vendors SACCO yesterday.
While presenting the Audit report Peter Kayebe, the external auditor, said that the missing 39 million shillings was never documented and the statements he received from the bank showed that the Sacco had spent more than a year without receiving any savings from its members and others paying back their loans.
He accused the manager, Hope Kyarikunda, of refusing to provide him with all the necessary documents and asked the Resident City Commissioner to force her to bring the documents. End.
