Members of the Uganda Cooperative Alliance (UCA) have resolved to punish the former leaders of UCA who are accused of illegally selling UCA properties without the members’ knowledge.
The accused are Nimrod Wambete the former UCA Chairman and his Secretary General Masikweli and some other officials who are reported to have sold the properties.
UCA), an umbrella body that unites over 1400 Cooperative Unions.
“Assets of the UCA which were illegally sold by the former leaders and managers between 2000 and 2016 before the new Board and me the Secretary-General,” Ivan Assimwe, the Secretary General of the UCA told reporters at the sidelines of the event.
“Because this became a contentious issue and those people who were responsibly squandering the assets. We didn’t know but when we came in, they fought us a lot,”
The members, he said resolved that we summon the former Bosses and whoever will be the culprit will be held personally and they will return what they stole. They sold without the authority of the AGM.
Ferdinand Tumuhaise, from KAA a lead counsel in the Investigation said that the former UCA SG, Charles Kabuga in his 1999 report said that he had left the properties intact with Shs1Bn, which was wiped out.
“Over UCA 150 properties, the majority being land was lost and several sold fraudulently,” he said
“Assets of Uganda Cooperatives Alliance, the SG found the report, we are Investigating around 10 properties and found out that some were in the UCA names but occupied by people while others were sold,”
“UCA, being an apex body had properties all over the country so we have been recovering these ones that are nearby in Kampala, we haven’t even recovered 1%,”
According to Tumuhaise, they are recovering some of them, you find there is a signature but no name and some of them have both for example the Bugolobi property which was sold to Lam Enterprises Chairman Wambete his name is there both on the transfer form, and sales agreement, the SG Makweli.
Some of the properties that have so far been recovered include; land at the UMA showground, House in Kasanga, and Bugolobi among others.
“The UCA former Chairperson Nimrod Wambete and his Secretary General Misimakweli sold the Bugolobi House at $1.227m yet it was worth$3.7m.
Fredrick Gume Ngobi, the State Minister of Cooperatives said that no one will be spared and each and every culprit will return what they stole as agreed by the UCA members.
Meanwhile, UCA has announced that it will soon revive its Cooperative Bank.
The Bank was closed by the Central Bank of Uganda after running bankrupt.
During their 54th Annual General Meeting, members of UCA unanimously agreed to form their own bank, citing exorbitant loans being issued by commercial banks.
“Each member has agreed to provide Shs5 million for the start of this bank, we needed this bank yesterday,” Asiimwe said
“This will help the Cooperatives to develop themselves because they are being affected by the loans,” he added.
Speaking about the same matter, Frederick Gume Ngobi, the State Minister of Cooperatives pledged government support towards this bank.
“We are in total support of this bank. Cooperatives can develop themselves better if they manage their own finances,” he added.
Ngobi noted that Cooperatives will put the Parish Development Model money into the Bank and this will help it in capitalization.
