WHAT NEXT FOR KIGARAMA PEOPLE’S SACCO AFTER FOUNDER MEMBERS DIVERT TO GENESIS

By Onesmus Ndyanabo

www.mknewslink.com

In Sheema—

Kigarama people’s SACCO is at the verge of its down fall following the exit of some of its founders and strong members.

Joab Baryayaka, Bitanako both founder members, Mzee Kahima the founder who is also Former chairman board Kigarama people’s Sacco, and Godwin Arikweera former Vice chairperson are some of the people who have exited.

The group has also founded a new SACCO known as Genesis Sacco which was officially launched yesterday in Kanyeganyegye Masheruka town council Sheema District.

www.mknewslink.com reporter has established that the separation was caused by dictatorship allegedly exhibited by some few individuals in Kigarama people’s Sacco.

The leaving members allege that SACCO leadership has refused to leave the power which has annoyed some of the active members who started asking for accountability.

However in an interview with www.mknewslink.com Kigarama people’s Sacco manager Ms. Juliet Kyosimire said that the world is a competitive one thus the members are free to start theirs.

The manager noted that half of their members have accounts in other Banks but still maintain their membership in Kigarama people thus they may have accounts in other SACCO and remain in Kigarama.

“We have been giving loans, we have 5billion in loans, who has that money if members have left?” wondered the Manager.

Meanwhile, the three month old Genesis Sacco has already pulled over 500 members and it’s alleged that many have crossed from Kigarama peoples SACCO

.

Daudi Kabanda who was the chief guest at the official launch of the new Sacco warned Genesis Sacco management to fight hard so that what happened at Kigarama SACCO will not repeat itself at Genesis because of greedy for power.

Joab Baryayaka Genesis SACCO founder member said that with their experiences from other SACCOs, they want to aim at good governance.

According to the chairman board Bosco Turyamureba, they have already registered over 500 members, loan portfolio stands at 90M and share capital is now at 40 million. The Sacco is fully registered and it received its certificate yesterday.

Dickson Kateshumbwa of Sheema municipality and Sheema south MP Elijah Dickens Mushemeza contributed two million shillings each towards the development of the Sacco.

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