MBARARA- Twelve conventional Savings and Credit Cooperative Organizations Saccos in Mbarara district are no more operational due to embezzlement of peoples’ money worth millions of shillings by Sacco managers who connive with Sacco board members in stealing.
This was revealed by the Mbarara district Commercial Officer Mr Adams Bwisho following escalated public outcry of continued corruption and theft tendencies in up growing Saccos.
Bwisho explained that among those in spotlight include Bubaare Savings and Credit Cooperative Organization BUSCO in Bubaare sub county , and with majority in Kashare sub county which are being investigated and soon forensic audit to be conducted to assist in arresting and prosecuting the prime suspects.
He explained that of recent two stakeholders’ meetings were conducted with local leaders in Bubaare sub county where it was recommended that forensic audit to be conducted in BUSCO that requires over shs 3 million.
Bwisho said some of the Saccos that will not be followed for investigation are those Saccos that registered and never showed seriousness in implementation.
Currently non operational Saccos Bubaare sub county has three, Kashare sub county five and Bwizibwera Rutooma town council three and one Ngango Farmers’ Sacco in Kagongi sub county.
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