BUVUMA —The Minister of Microfinance Haruna Kyeyune has directed that let there be no borrowing of Emyooga money in Buvuma until all those that took the money return it. This was after a meeting he held on Tuesday in Buvuma that discovered a lot of misappropriation of the funds.
Eid Kayiibwa the Vice chairperson for Buvuma leaders Emyooga Sacco blames the Chairman for withdrawing money from the SACCO account for his personal use. He says SACCO members are always asking him why they are not able to get money from the Sacco yet he is even not among the signatories.
“Hon Minister the Chairman has been lost all the time we are infact privileged to have him here today “says Kayiibwa .
Ayisu Charles the Chairperson of Buvuma leaders Emyooga SACCO retaliated saying the leaders SACCO is so political and full of gossiping and pointed to the vice chairman who failed to present his report but instead accused the Chairman of all the misgivings in the Sacco.
However the Minister promised the people of Buvuma that he is going redouble efforts to see that Emyooga program gets back on track on the Island.
“I want to camp here but before I do that I’m going to send a team of technocrats from the ministry (Microfinance), the Microfinance Support Centre, who will engage the RDC such that they will leave no stone unturned, “Mr Kasolo said.
Kasolo’s remarks stemmed from the fact that several leaders in Buvuma on Tuesday told him that people had defaulted.
“Whoever took money must bring it back it is not for personal use”. The money is to do development work and then you repay it to your Sacco. Whoever told you to eat the money is going to cause you trouble.”
He also promised to help in the improvement of the transport system on the Island by buying them a boat.
“I have heard that it won’t cost more than Shs 50 million,” he said. “This boat will be managed by the office of the RDC (Resident District Commissioner) and it will be used to monitor government programs, among other things.”
The Minister also promised the Islanders that in the next phase government is going to design special loan packages which will enable them tap all the advantages that come with being surrounded by the lake.
“The next phase will be about giving Islanders loans that will enable them buy nets and boats such that you improve your economic standing,” Kasolo said. ”
Zzimbe Samuel, The District Commercial Officer Buvuma District says the District received Ugx 560 Million as EMYOOGA seed capital .a total of 16 Emyooga SACCOs were formed with over 300 Associations and 1200 individual members
He reveals that through savings the members have managed to raise 500 million Uganda Shillings. So far 400 million has been disbursed to members inform of loans.