Police refute parliament report against their Sacco

Police have refuted a parliament report questioning operations of the Force’s Exodus Saving and Credit Cooperative Organization (Sacco). The report was presented in the House early February.

On February 1, 2023, Deputy Speaker Thomas Tayebwa directed the parliament’s defence committee to inquire into operations of Exodus Sacco, following a statement by Internal Affairs state minister Gen David Muhoozi regarding involuntary deductions from officer salaries as contribution to the Sacco. 

According to the committee report, the Sacco created in 2007 is nnow marred with several complaints emanating from governance, and management concerns.

But on Monday, police Sacco chairman Wilson Omoding Otuna said the report did not adequately address the challenges and achievements of Exodus Sacco from 2020, including increased membership, loan and savings growth plus financial empowerment.

“Exodus Sacco management has written to the registrar of cooperatives regarding the issues raised in the report, providing supporting documentation. Additionally, management has communicated with the Police Council as the Sacco was established by a resolution of the council in 2007. The recommendations from both entities will guide the next steps,” Omoding told journalists at weekly police briefing in Kampala.

Omoding maintained that their Sacco operates in accordance with the cooperative principle of autonomy as a self-help organization controlled by its members, with no interference from police management despite operating under the patronage of the Force to improve officer-welfare.

“Membership experienced a slight decrease to 41,798 in 2023 due to retirement, voluntary exits, and member deaths. However, the Sacco achieved a significant growth in its loan portfolio, with a 48% increase, reaching Shs45billion,” he reported.

He added that: “Savings withdrawals remained high at approximately Shs557million per month, constituting over 69% of saving deposits during the period. Loan disbursement totaled Shs28billion, with total assets reaching Shs69billion and share capital at Shs 13billion.”

Exodus Sacco said its member savings are at Shs31billion.

“Exodus Sacco remains committed to transparency, accountability and member autonomy,” Omoding noted.