KABALE – The Kabale Deputy Resident District Commissioner (RDC), Ronald Bakak, has initiated fresh investigations into the mismanagement of funds designated for the Kabale Journalists Emyooga Sacco.
Embezzlers have been given a 30-day ultimatum to refund the misappropriated funds.
In 2022, Kabale District Commercial Officer, Erasmus Natuhamya, presented an audit report highlighting significant mismanagement within the Kabale Journalists Emyooga Sacco. The report revealed a lack of clear financial records, including cash books, payment vouchers, and receipt books.
Natuhamya also disclosed that the Sacco’s chairperson, Moses Henry Tahoreraho, had consolidated power, controlling various committees without proper oversight. Additionally, Tahoreraho allegedly admitted non-journalists into the Sacco and distributed loans without due consultation.
Former Kabale Resident District Commissioner, Darius Nandinda, ordered the arrest of the implicated individuals for their involvement in the alleged mismanagement of 36 million Ugandan Shillings provided by the government as start-up capital.
During the Kabale media-friendly football match at the municipal stadium on Sunday, Bakak stressed the importance of holding Sacco leaders accountable. He stated that investigations revealed leaders had misappropriated funds for personal gain.
Bakak disclosed that the government, through the Microfinance Support Center, had deposited 30 million Ugandan Shillings, with leaders disbursing 16 million Shillings in loans, recovering only 1 million Shillings.
He demanded bank statements within 14 days to account for the transactions and issued a 30-day ultimatum for the repayment of outstanding loans taken from the SACCO.
CUE IN BAKAK….ON EMYOOGA….LUG/ENG//
