The Minister for Finance, Hon. Henry Musasizi, has called for stronger governance, enhanced financial accountability and effective oversight at the Microfinance Support Centre (MSC) to safeguard public resources and ensure the institution’s long-term sustainability.
The Minister made the call during the MSC’s 20th Annual General Meeting (AGM), held at the Ministry of Finance, Planning and Economic Development (MoFPED).
Addressing concerns highlighted in the Auditor General’s Report for the Financial Year 2024/2025, Hon. Musasizi urged the institution to strengthen internal controls, improve loan recovery, ensure the effective utilization of programme funds and implement audit recommendations in a timely manner.
He further called on Management to enhance accountability for loan write-offs and Emyooga funds, operationalise the Management Information System (MIS) and complete the Emyooga impact assessment to establish the programme’s effectiveness and inform future interventions.
Speaking at the same meeting, the Minister of State for Microfinance, Hon. Shartsi Kutesa Musherure, emphasised that the MSC’s performance should be assessed based on the safety, liquidity and growth of its funds, as well as the tangible benefits delivered to the intended beneficiaries.
She called for improved financial management, regular performance reporting and decisive action to address outstanding audit findings. She also urged Management to strengthen loan recovery efforts and implement a credible financial recovery strategy to enhance the institution’s financial health and long-term sustainability.
The Chairperson of the MSC Board, Dr. Emmanuel Aliba Kiiza, underscored the importance of having a fully constituted Board with the appropriate skills and expertise to safeguard public funds, strengthen institutional oversight and ensure compliance with the law.
He also emphasised the need to adhere to established procedures for Board appointments and security vetting, noting that sound governance structures are essential for effective leadership, accountability and the institution’s overall performance.
