A 27-year-old man has been remanded to Luzira prison for stealing over UGX 6.4 million money collected for a cash round SACCO (Kibiina).
The suspect, identified as Rogers Ssemanda, was a street vendor at Kasiwukira Plaza who was caught red-handed breaking into a savings box to steal members’ savings collected since March 2023.
The SACCO in question was a collective financial effort made by a group of 23 individuals, all of whom work at Kasiwukira Plaza in Kampala Central, where each member of this collective contributed to the fund, creating a substantial pool of savings.
According to Buganda Road Court Chief Magistrate Ronald Kayizzi, the alleged theft by Ssemanda has not only depleted the group funds but also shaken the trust within this group.
“The case is now proceeding through the legal system and a waiting for outcomes,” Kayizzi stated.
He stated that the suspect has, however, denied the theft charges before the court and has been remanded to jail until January 9, 2024.
The outcome of this case will undoubtedly have repercussions on the approach to security within SACCOs and potentially influence trust and participation in similar cooperative ventures in the future.