police saccco

Police SACCO Books Go Missing

The books of account for the Uganda Police Force Sacco, Exodus, for the years 2007 to 2012 are missing.
The sacco was started in 2007 with the aim of improving on the welfare of the police force through savings and credit cooperatives society.
However during the annual general meeting held at the police headquarters at Naguru in Kampala, the Chairman of the board of the Police Sacco, Henry Kalulu, revealed that books of account for 2007 to 2012 are missing.

This revelation came after auditors revealed that the police sacco is operating with no capacity to meet annual interest to the members of the Sacco.

Kalulu said: “We regret that the financial statements of the years 2007 to 2012 can not be traced therefore no financial statements for that period.”
These revealtions confirm complaints from some police officers about the mismanagement of the sacco.
But Kalulu said the mismanagement was done by his predecessors.

“We came in 2015 and all we have done is to put everything in order from 2013 to 2018,”he said.

He said that in effort to increase the members savings, the sacco was contracted by police force to supply food but the police has not paid debts amounting to Shs 2 billion which has greatly affected it finances.

The external auditor Dickson Turyahabwe gave his expert opinion which showed under performance of the sacco with no capacity to pay annual interest to its members.

“The expenses reduced the profits by 79%,”he said.

The state minister for Cooperatives, Fred Gume, warned the management of Police Sacco against misusing members savings.
The delegates were expected to elect the new leaders to manage the Sacco.

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