MUGABE R
The Rubabo County Political Leaders Emyooga SACCO has issued a 30-day ultimatum to its loan defaulters to repay their outstanding debts or face legal action. This resolution was passed during the SACCO’s 4th Delegates Annual General Meeting (AGM), held on Friday at the head office in Biguri Trading Centre, Kyamakanda Parish, Buyanja Sub-county in Rukungiri District.
The SACCO, which was launched in 2020 under the Presidential Emyooga Initiative to promote financial inclusion among political leaders through access to affordable credit, has been grappling with non-performing loans and misuse of funds by some members.
Byamukama Edward, chairperson of the board and representative of the Kigezi Region Political Leaders Emyooga SACCOs, expressed both concern and optimism. He acknowledged the SACCO’s commendable growth and expansion despite limited capital, low revenue due to minimal interest rates, and increasing default rates. He also decried the tendency of some members to treat borrowed funds as political handouts.
Caroline Komujuni, a delegate from Kasheeshe Parish, emphasized the need for unity among leaders to recover the defaulted funds. She noted that the visibility of defaulters in leadership positions undermines the SACCO’s credibility and called for collective action to enforce accountability.
Albert Ahabwe Rwamugaata, the SACCO’s loans officer, criticized several parish committees for their role in mismanagement and misuse of funds. He called for immediate reforms to restore trust and ensure proper loan administration.
Echoing the need for systemic reforms, Charles Kahanyi urged the government to strengthen the legal framework governing Emyooga SACCOs to streamline transactions and bolster recovery efforts.
Caroline Atuhaire, the Rukungiri District Commercial Officer, clarified that Emyooga funds are not political tokens but structured capital meant for empowerment. She assigned the SACCO Board the responsibility of compiling a list of defaulters for possible court proceedings should they fail to meet the repayment deadline.
The meeting concluded with a firm resolution to serve written notices to all defaulters. Those who fail to repay within 30 days will be subjected to legal redress to safeguard the SACCO’s financial integrity and ensure sustainability.
