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Exodus SACCO Refutes Reports on Banning Acquisition of Loans

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By APN Reporter

Kampala

The management of  Exodus Sacco  has refuted reports that the Police SACCO Management extended a ban on loan acquisition.

 Police management led by the SACCO chairperson, Wilson Omoding say that the reports are false, malicious and misleading.  

According to the SACCO Management . There is no ban on loan acquisition as alleged by the writer.

The management says that the  SACCO has been extending loans and shall continue doing so to members who are eligible.

 They further reveal that since the beginning of the year, 2020, the SACCO has disbursed loans worth Ugx 3,335,570,000 to 686 members. This includes assistance loans worth Ugx 912,800,000 to 128 members who have been financially impacted on by the coronavirus.

Omoding says that the safety of their members remains a priority during this period of the pandemic. Therefore,  their section remains open and continues to receive applications from interested members.

He adds that the Police management has clearly scheduled the payment of 3 billion shillings that they owe the SACCO adding that this has no serious effect on the operations and it will greatly improve the liquidity ratio.

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