Breaking News Business Education National

Muyebe Twimukye SACCO Limping as Dozens Default

Spread the love

By APN Reporter


About five kilometers off the Kabale –Katuna highway in a village called Muyebe in Buhara sub county, On the left you are welcomed by Dozens of fairly built households and the right big farms established in wetlands and a booming bricklaying business thrives.

A small white signpost for Muyebe Twimukye SACCO leads to you to a magnificent house hold with a small house at the entrance may be which is meant for the night watchman.

As our reporter moves towards the house, it is made clear that the small house is actually the office for Muyebe Twimukye Savings and credit cooperative.

Once a powerful SACCO and viewed and having raised the hopes of many as institution that would help them get out of poverty, the SACCO has been condemned to occupying a small house for an office and is run by two staff with the manager inclusive.

About 100 meters away is a stalled structure which was abandoned at foundation level as the hopes of the SACCO to own its premises faded.

The lay out of the office and its surroundings say a lot about the SACCO’s limping state.

Leaked documents from the SACCO indicate that the cooperative with 520 members is struggling to operate after dozens of members borrowed money and declined to pay back.

Inner sources indicate that over 180 members borrowed money with some taking money as far away back in 2016 but have not bothered to pay back. 

Dozens of people have been dragged to court over failure to pay but the members feel that the manner in which the SACCO management is trying to get its money back is selective since only 35 have been asked to pay.

Angelica Twinomugisha is one of those that have been dragged to court by Muyebe Twimukye SACCO.

The move has angered a section of members who claim that some members who include Professor Charles Kwesiga the Uganda Industrial Research institute and other prominent members of the SACCO continue to default while the SACCO continues to struggle.

A member who talked to our reporter on condition of anonymity revealed that the management has totally failed to deliver to their expectations. He revealed that the SACCO is on the verge of closure.

Professor Charles Kwesiga is one of the members who have allegedly used their positions in society to silence the management of the SACCO

Leaked documents indicate that the that the professor actually received 7 million shillings from the SACCO way back in 2016 and has since increased to a total of 17 million shillings. More documents indicate that the SACCO at a certain point issued a notice of intention to sue but later backed off for yet to be known reasons.

Phionah Kyarikunda the manager at Muyebe Twimukye SACCO says that is true that the SACCO is struggling. She says that they are trying to engage the members to pay through court and other engagements.

Kyarikunda further rubbishes claims by members that the SACCO has not been engaging professor Charles Kwesiga and other prominent members saying that several meetings have been held and promises made to have the money recovered.

The Manager however declined to reveal how much money was defaulted by the members.

Saturday Dickson is a member of the supervisory committee at Muyebe Twimukye SACCO. He says that it is true that they are struggling to secure money from the members who defaulted.

He claims that they are taking on the members in phases so that they can finally get all the money back.

Leave a Reply

Your email address will not be published.