Masaka Sacco bosses in fight over savings

Members of Masaka Elders Savings and Credit Cooperative Organisation (Sacco) have raised the red flag over mismanagement of the organisation.

A section of Sacco members accuse their managers of operating against the Sacco laws and principles.

Mr Deo Mulindwa, the chairperson of delegates on the Sacco, said the current Sacco board chairperson, Dr Margret Ntambaazi, takes decisions without involving other members.

Complaints
Mr Mulindwa claims the Sacco has been operating without a budget since the year began.

“The board of governors committee of this Sacco comprises nine members, but currently the committee has only three after six of them broke ranks with the current chairperson and are watching from a distance,” he said during an interview on Wednesday.

“Members have not been receiving dividends, allowances as stipulated in the constitution since April this year and we doubt whether they will get their arrears,” he added.

He said several attempts by members to organise an annual general meeting to discuss to the stalemate at the Sacco have been frustrated by police in the area on the orders of Dr Ntambaazi.

“The recent annual general meeting was scheduled for July 1, but police blocked us, saying they had been told that the meeting would affect the ongoing investigations and auditing of the Sacco,” he said.

Dr Ntambaazi said the Sacco is being audited by external auditors and allowing members to convene annual general meeting may jeopardise the investigations.

Officials
The Masaka District Police Commander, Mr Bosco Bakashaba, declined to comment on the matter referring the newspaper to southern regional police spokesperson Paul Kangave, who also referred us back to the DPC.

“Please consider talking to the DPC, he is the one who received the letter from the registrar of cooperative societies stopping the said meeting,” Mr Kangave said in a telephone interview on Wednesday.

However, Mr Mulindwa also accused Dr Ntambaazi of suspending the Sacco manager, Mr Andrew Mawanda, without consent of the members.

But Dr Ntambaazi said: “Mr Mawanda [manager of the Sacco] was asked to step aside to allow the audit process to go on, the audit report is expected to be out on August 28 and we shall base on that to decide whether to call him [Mr Mawanda] back or not.”

She also said the Sacco savings are safe.

Mr Ivan Ntumwa, a Sacco member from Kabonera Sub-county, said they risk losing their savings because the current chairperson has refused to meet with them.

“Our Sacco is in a crisis because the founding members and all other members no longer have a say on their savings,” he said.

He claimed that the Sacco has lost more than Shs15 million in flopped meetings which are not accounted for and he thinks this could be the reason why management is blocking them from knowing the truth about their savings.

Ms Sarah Nyiramugisha, another Sacco member, said the manner in which the Sacco is being run, creates fear that it may collapse anytime.

“Masaka Elders’ Sacco has been attracting everyone including youth, but what is happening threatens its future,” she said.

The disgruntled Sacco members have since petitioned Masaka Resident District Commissioner, Mr Herman Ssentongo, who has advised them to put their complaint in writing so that he can call the two parties for mediation.