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Kampala, Uganda | THE INDEPENDENT | Police officers have lost trust in Exodus SACCO, the new Board Chairperson, Senior Commissioner of Police, Wilson Omoding has revealed.
He explains that this is exhibited by the rate at which subscribers rush to withdraw their savings from the scheme.
At least 32, 000 police officers subscribe to the SACCO that was created to help the officers save money for personal development and future use given their meager pay.
Speaking to URN in an exclusive interview mid this week, Omoding said that some officers spend more money on transport to come and pick their savings.
Exodus SACCO was started 12 years ago by the then Inspector General of Police –IGP Gen Kale Kayihura. It came after junior officers expressed reservations about joining the Police Savings Association Limited –PSAL that was started by their seniors.
However, Exodus SACCO has been in the news for years following cases of mismanagement of member’s deposits by the Henry Kalulu led team. Omoding says they have embarked on sensitising and restoring the trust of the officers in the new management team, saying the SACCO without the member’s deposits.
The Police council meeting held on November 18, 2019 appointed the Deputy IGP, Maj Gen Stephen Muzeyi Sabiiti to lead the steering committee to streamline the Sacco management.
According to sources, immediately Sabiiti was appointed, a decision was taken to halt the release of the monthly member’s deposits to Kalulu’s team.
However, Omoding, who took over nearly a month ago, says over Shillings 9 billion has since been released for members to acquire loans.
He also disclosed that they have since cleared the loans left by the old management teams to pave way for members to borrow for personal development and emergencies.
Early this week, the Police steering committee and SACCO board met with suppliers of Exodus SACCO Canteen, which is almost collapsing due to unpaid debts amounting to Shillings 3 billion.
The money accumulated from food served to directors and their staff for the last two years.
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