Government to probe entandikwa losses
THE Government is to probe the manner in which funds were disbursed under the entandikwa credit scheme.
By Joel Ogwang
THE Government is to probe the manner in which funds were disbursed under the entandikwa credit scheme.
The micro-finance state minister, Gen. Salim Saleh, last week said they would focus on how sh9b was lost under the scheme in 1997.
“Entandikwa didn’t fail but was failed. We are going to review records of the beneficiaries. We want to know who ‘ate’ what,†he told a farmers’ seminar at the Colline Hotel in Mukono.
Entandikwa, which means ‘start-up capital’, was a sh9b scheme, initiated by the Government to offer interest free loans to the poor.
He warned that those found guilty of misappropriating the funds would have to re-pay before accessing money under the new credit scheme, Bona Bagaggawale (Prosperity-for-All).
Saleh also warned districts that fail to account for money received from his ministry. He gave an example of Kyenjojo, which he said had failed to account for $5m (about sh9b) obtained from the Government.
The money, Saleh noted, was supposed to be distributed through the sub-county integrated development association, created by the district.
Moses Byaruhanga, a presidential aide, advised farmers to invest in profitable ventures.
Joseph Kitandwe, a commissioner, urged farmers to embark on value-addition and join saving and credit societies, if they were to get soft loans.
THE Government is to probe the manner in which funds were disbursed under the entandikwa credit scheme.
The micro-finance state minister, Gen. Salim Saleh, last week said they would focus on how sh9b was lost under the scheme in 1997.
“Entandikwa didn’t fail but was failed. We are going to review records of the beneficiaries. We want to know who ‘ate’ what,†he told a farmers’ seminar at the Colline Hotel in Mukono.
Entandikwa, which means ‘start-up capital’, was a sh9b scheme, initiated by the Government to offer interest free loans to the poor.
He warned that those found guilty of misappropriating the funds would have to re-pay before accessing money under the new credit scheme, Bona Bagaggawale (Prosperity-for-All).
Saleh also warned districts that fail to account for money received from his ministry. He gave an example of Kyenjojo, which he said had failed to account for $5m (about sh9b) obtained from the Government.
The money, Saleh noted, was supposed to be distributed through the sub-county integrated development association, created by the district.
Moses Byaruhanga, a presidential aide, advised farmers to invest in profitable ventures.
Joseph Kitandwe, a commissioner, urged farmers to embark on value-addition and join saving and credit societies, if they were to get soft loans.