East African Gazette
Kampala
The Uganda Police Force has issued a statement in regards to the discoveries made about the force’s Exodus SACCO, after a report was submitted to Parliament earlier this month.
The report was a result of a directive from the Deputy Speaker Thomas Tayebwa to the Committee on Defence and Internal Affairs to investigate the activities of the SACCO, following concerns raised by the Minister of State for Internal Affairs regarding unauthorized deductions from Police officers’ salaries for savings with the SACCO.
However, the chairman of the SACCO, Senior Commissioner of Police Wilson Omoding Otuna, expressed that while they acknowledge the findings, the report failed to fully capture the progress, accomplishments, and obstacles faced by Exodus SACCO from 2020 to present, which includes an increase in member involvement, growth in loans and savings, and financial empowerment.
“In response to the recommendations, Exodus SACCO management has written to the registrar of cooperatives regarding the issues raised in the report, providing supporting documentation. Additionally, management has communicated with the Police Council, as the SACCO was established by a resolution of the council in 2007. The recommendations from both entities will guide the next steps,” he noted.
He elaborated during a media briefing at the police headquarters in Naguru, a Kampala suburb, on February 19, 2024, that the SACCO operates in line with the cooperative principle of autonomy and independence, without any interference from the police management.
“The SACCO is an autonomous, self-help organization controlled by its members, with no interference from Police Management. It operates under the patronage of the Uganda Police Force to improve officers’ welfare,” he added.
He emphasized that the SACCO communicates with its members through different avenues like the Board, Management, Delegates, Community Liaison Officers (CLOs), and Unit commanders, sharing information on SACCO progress, such as shares, savings, loan offerings, system enhancements, and handling member inquiries.
He highlighted that the General Meeting, authorized by Regulation 20 of Cooperative Societies Regulations and Article 16 of the Exodus SACCO By-Law, manages the SACCO’s operations and supervises leadership changes.
“Exodus SACCO maintains an updated membership register, prioritizing accuracy and reliability to comply with regulatory requirements outlined in the Cooperative Societies Act,” Atuna noted.
However, he noted that though the membership experienced a slight decrease to 41,798 in 2023 due to retirement, voluntary exits, and member deaths, it has also achieved a significant growth in its loan portfolio, with a 48% increase, reaching shs45, 819,315,737.
“Savings withdrawals remained high at approximately shs557,000,000 per month, constituting over 69% of savings deposits during the period. Loan disbursement totaled shs28,695,750,000, with total assets reaching shs69,970,607,712, share capital at shs13,106,997,012, and member savings at shs31,174,370,467,” he noted.
He said the SACCO is dedicated to upholding transparency, accountability, and member autonomy.
He confirmed to stakeholders that they have implemented necessary measures to tackle various aspects, such as encouraging voluntary membership, maintaining open communication with members, and complying with regulatory standards.
He emphasized that Exodus SACCO places member well-being and contentment at the forefront, advocating for fairness, inclusivity, and prudent financial practices.
“We express gratitude for the support and guidance from regulatory bodies, stakeholders, and members. As we progress, we remain dedicated to continuous improvement, responsiveness to feedback, and excellence in serving our members and advancing the cooperative movement,” he noted.