RUHARO PRESIDENTIAL SACCO WORTH 380M COLLAPSES, LEFT WITH 178,000 IN ACCOUNT
By Gideon Tumwijukye
In Bushenyi
The Bushenyi District Finance Officer David Byamukama has been given an ultimatum of two weeks to produce an audit report for Ruharo Presidential SACCO that will be taken to the president’s office.
This comes after an outcry from SACCO members led by Aloysius Nshemereirwe to Bushenyi leaders about the collapse of their SACCO that has lived for over 16 years and financed with 120 million from president Museveni in 2013.
Speaking to SACCO members yesterday at Ruharo trading center in Bushenyi, the Bushenyi-Ishaka legislator Hon. Gordon Arinda  Cowboy revealed that they have instructed the CAO to make an inquiry committee that will produce an audit report of the SACCO establish the whereabouts of the money.
Arinda added that the SACCO is a presidential project so he can’t keep quiet when the project is collapsing.
In 2013 president YK Museveni refinanced the SACCO with 120 million but to the surprise the SACCO has only 178,000 shillings on their current account, 120 million as bad debts and 29 million as running debts
The Central divison Chairman LCIII Steven Karuti urged people to stop politicizing these issues especially blaming some political leaders that they are behind its failure.
The former Vice Chairman of the SACCO Alex Nampa who led the SACCO for two terms said that the SACCO had 380 million on the account when he was still in office but one year after he had left the office the SACCO had only 180 millions on the account.
He added that the then manager of the SACCO Aurelian Byarugaba had swindled 170 million.
He was arrested and taken to ant-corruption court, he was later released but members were not highlighted on where the case ended from yet the losses in the SACCO are still accumulating.
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