Minister of Micro Finance - Uganda Multimedia News & Information https://www.weinformers.com Politics, Health, Sceince, Business, Agriculture, Culture, Tourism, Women, Men, Oil, Sports Thu, 21 May 2015 11:20:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 Members of Parliament ask Minister of Micro Finance to investigate SACCOs https://www.weinformers.com/2015/05/21/members-of-parliament-ask-minister-of-micro-finance-to-investigate-saccos/ https://www.weinformers.com/2015/05/21/members-of-parliament-ask-minister-of-micro-finance-to-investigate-saccos/#respond Thu, 21 May 2015 11:20:41 +0000 http://www.weinformers.net/?p=40972 Members of Parliament on the parliamentary committee on National Economy have put to task the Minister of Micro Finance, Caroline Amali Okao to explain the closing of SACCOs and the same SACCOs leaving with government funds. MPs on the committee chaired by the Member of Parliament for Ibanda North, Xavier Kyooma Akampurira, are concerned that many SACCOs […]

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]]> Members of Parliament on the parliamentary committee on National Economy have put to task the Minister of Micro Finance, Caroline Amali Okao to explain the closing of SACCOs and the same SACCOs leaving with government funds. MPs on the committee chaired by the Member of Parliament for Ibanda North, Xavier Kyooma Akampurira, are concerned that many SACCOs are collapsing and causing government to lose money without recovery.

The woman Member of Parliament for Rubirizi district, Betty Mbabazi Ahimbisibwe, said that the Minister of Micro finance should work with police and arrest individuals who have mismanaged SACCOs’ funds.

In her response while appearing before the committee the minister of Micro Finance Caroline Okao said that her ministry is going to intensify operations along with police and RDCs to arrest people who have stolen SACCOs’ money and compel them to refund it.

She revealed that government is working on a law that will curb fraud in SACCOs.

She urged leaders at all levels to take up cases of individuals defrauding people so that they are punished and funds recovered.

 

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