June 24, 2022

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Sacco chairperson blocked from accessing office over funds mismanagement

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One of the police officers from Kiyindi police station deployed to prevent members from breaking into the sacco offices.

Residents of Kiyindi landing site have blocked the Najja Savings and Credit Cooperative Society-Sacco Chairperson from accessing the offices over allegations of mismanagement of funds.

Najja Sacco located close to Kiyindi town council headquarters has over 2,000 registered members. It was established in 2013.

Charles Lubega Masengere, the Sacco Chairperson is accused of not giving members an accountability report for the last two years and failure by the members to access their savings and loans.

The Sacco collected more than 180 Million Shillings from individual members and community savings groups.   

Alizat Namusoke a Sacco former board member says that whenever members want to access their savings or apply for loans, they are told to wait because they are still collecting money from the other members.

James Masiko a fisherman at Kiyindi notes that he saved 1.3 Million Shillings with the Sacco but he hasn’t accessed the money for the past two months. 

However, Masengere insists he will not step down claiming that the Sacco constitution allows him to serve two terms.

He also notes that accountability is given to the members during the Annual General Meeting which members should wait for at the end of the month. He however acknowledges that there is a dwindling of savings which was caused by the covid-19 pandemic.

“We have a challenge that many people who borrowed money especially during the lockdown period are still failing to pay back.”

Jane Francis Kagayi, the Buikwe District Resident Commissioner says that he has received several complaints from members of Kiyindi Sacco and has already informed the Uganda Micro Finance Support Center to intervene.    

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