Alfred Ocen, the Gulu district commercial officer has noted with concern that many people are forming Savings Credit and Cooperative Organizations (SACCOs) with the sole agenda of accessing money.
Ocen says that it’s unfortunate that people don’t take SACCOs seriously with many thinking it’s a place they can easily access money and disappear without paying it back.
The commercial officer was facilitating a training organized by Mercy Corps, a Non-profit Organisation for cooperative leaders at Bomah Hotel in Gulu city yesterday.
Ocen’s remarks come as government is struggling to recover billions of shillings disbursed to SACCOs under Emyooga, a wealth creation initiative.
Report says, a total of 760 million shillings was disbursed to 890 beneficiaries in Gulu district since 2021 when the program was launched.
However, only 179 million shillings has so far been recovered.
Recovery of the funds has been a challenge as some of the groups are no longer existing while some members have gone ahead to change their locations intentionally so that they are not easily traced.
By Justine Muboka
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