Shs 400 million go missing in Mwizi Sacco

By Frederick Anyine

A three year forensic audit report conducted in Mwizi SACCO in Mwizi sub county, Rwampara district from January 2016 to December 2018 has revealed that over shs 411 million were mismanaged and have no accountability. This was revealed during an extra ordinary meeting for Mwizi SACCO held at Mwizi town council offices in Rwampara district.

The Bushenyi District Commercial Officer Mr David Byamukama who represented the registrar of cooperative societies in Uganda while presiding over the function said all those implicated in the report, must refund the money which belongs to members.

This followed the petition by members of Mwizi Sacco to the registrar of cooperative societies to investigate suspected embezzlement of their funds by Sacco board members and administrators.

 Byamukama however hailed members of the Sacco for continuing to be peaceful, trustful and showing love to their saving financial institution noting that despite the challenges it’s going through the members have supported and made their Sacco remain financially stable and strong.

The Chairperson board Mwizi Sacco Mr. Wilson Mutabazi thanked members for trusting their leaders in the services being rendered that have made them continue to give social and financial support which will help to settle harmoniously the challenges in the Sacco now in making recoveries.

He said with new constituted vetting committee members, Mutabazi was optimistic that resources and capital invested in the Sacco will remain to be put into good use and transparent manner for the benefit and development of all members where they have investment of more than five billion shillings.

The embattled chairperson Mwizi Sacco Mr. Everest Mujuni said he doesn’t believe in the forensic audit report which ignored the accountability of shs 180 million spent on purchase of Mwizi Sacco double cabin Ford ranger being used to run services of the Sacco.

Mujuni added that also not considered in the forensic audit report was Shs 52 million spent on securing court interim order stopping unlawful extraordinary meeting by petitioners who wanted to kill the process of investigation on September 22, 2018.

Mujuni is however optimistic that the select committee will look through the forensic audit report and  will come out with the truth that will continue to build the Sacco.

 End

About Anthony Otushabire

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