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Browsing: Microfinance Support Centre
- Uganda Auditor-General says out of $27.7 million meant for SACCOs under the Emyooga programme only $21.8 million was disbursed.
- Lawmakers say failure of Microfinance Support Centre staff to follow due diligence in loan disbursement was indicative of incompetence.
- Parliament tasks MSC officials to detail the efforts put in place to ensure that the intended beneficiaries receive the funding.
A report by the Auditor-General has revealed that Uganda’s Microfinance Support Centre (MSC) failed to absorb a total of $5.87 million (USh21.2 billion) of the Emyooga grant during the 2021/22 financial year.
In his report to Parliament, the Auditor-General observed that out of $27.7 million meant for SACCOs under the Emyooga programme, only $21.8 million was disbursed.
In a meeting on July 25, with officials from the Microfinance Support Centre (MSC), legislators on the Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) queried the way the funds were used.…