The Rujumbura County Member of Parliament, Hon. Maj. Gen. Jim Muhwezi who is also the Minister for Security has warned Sacco leaders against embezzling Sacco funds in order to avoid being apprehended.
Minister Jim Muhwezi made the revelation over the weekend while serving as the chief guest during the fundraising to revive Kubumbu SACCO at Bwambara Playground in Bwambara Parish, Bwambara Sub County, Rukungiri District.
According to Minister Muhwezi, the majority of SACCO collapses and it is caused by leaders who embezzle money, causing individuals to lose their savings.
The government would not allow such nonsense to occur, thus he warned leaders to abstain from such behaviors or risk being arrested.
Minister Jim continued by urging the SACCO members who borrow money to always make their payments on time, since this will support the SACCOs’ growth.
He encouraged everyone in Rukungiri district and the entire country to engage in commercial enterprises in order to make money and advance their own lives rather than relying solely on sustenance.
He donated Ugx. 10 million to support Kubumbu SACCO’s growth.
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The Archdeacon of Bwambara Archdeaconry, George Bazahuza, praised the government’s development efforts in the area and underlined the necessity of reviving Kubumbu SACCO in order to provide financial stability.
The Kubumbu SACCO Board Chairperson, Nahabwe Willy Rutabarenga, gave an overview of the organization’s goals for lending money for school fees and other financial services related to agriculture.
