Da Dona
JF-Expert Member
- Dec 16, 2025
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Police have arrested two managers of Masaka Elders Savings and Credit Cooperative Organisation (SACCO) following complaints that members have been unable to access their savings and recover money owed to them.
The suspects are Paddy Mugalula, the SACCO’s acting manager, and Richard Mawanda, who oversees its lending operations. Their arrest follows complaints from members who accuse the institution of delaying withdrawals, withholding deposits and failing to return collateral.
Members of Balobi Savings Group, a group of fishermen led by Vincent Seruli, said they had struggled to access their savings for nearly a year. They also alleged that account maintenance charges continued to be deducted despite their inability to withdraw their money.
Some members claimed that requests to withdraw Shs1 million resulted in payments of as little as Shs50,000, with management promising to clear the outstanding balances later.
The complaints were presented to Rebecca Atwine, the Deputy Presidential Advisor on Anti-Corruption, who directed police to investigate the matter. Atwine also raised concerns about the SACCO’s operating licence, saying it no longer had a valid licence authorising it to operate.
Mugalula acknowledged that the SACCO was facing financial difficulties, attributing some of the challenges to borrowers who had failed to repay their loans. He said management was intensifying loan recovery efforts to raise funds to repay members and other creditors.
Greater Masaka Regional Police spokesperson Twaha Kasirye confirmed the arrests, saying the two managers had been taken into custody to assist with investigations into how the SACCO handled and spent members’ money.
Investigators are expected to establish the whereabouts of the funds, assess the extent of the alleged financial mismanagement and determine whether any criminal offences were committed.
Meanwhile, affected members continue to demand the return of their savings and accountability from the SACCO management.
Nile post UG
The suspects are Paddy Mugalula, the SACCO’s acting manager, and Richard Mawanda, who oversees its lending operations. Their arrest follows complaints from members who accuse the institution of delaying withdrawals, withholding deposits and failing to return collateral.
Members of Balobi Savings Group, a group of fishermen led by Vincent Seruli, said they had struggled to access their savings for nearly a year. They also alleged that account maintenance charges continued to be deducted despite their inability to withdraw their money.
Some members claimed that requests to withdraw Shs1 million resulted in payments of as little as Shs50,000, with management promising to clear the outstanding balances later.
The complaints were presented to Rebecca Atwine, the Deputy Presidential Advisor on Anti-Corruption, who directed police to investigate the matter. Atwine also raised concerns about the SACCO’s operating licence, saying it no longer had a valid licence authorising it to operate.
Mugalula acknowledged that the SACCO was facing financial difficulties, attributing some of the challenges to borrowers who had failed to repay their loans. He said management was intensifying loan recovery efforts to raise funds to repay members and other creditors.
Greater Masaka Regional Police spokesperson Twaha Kasirye confirmed the arrests, saying the two managers had been taken into custody to assist with investigations into how the SACCO handled and spent members’ money.
Investigators are expected to establish the whereabouts of the funds, assess the extent of the alleged financial mismanagement and determine whether any criminal offences were committed.
Meanwhile, affected members continue to demand the return of their savings and accountability from the SACCO management.
Nile post UG
