Why police officers are running away from the force
According to URN, police SACCO has gradually grown in savings and assets since 2020 when SCP Omoding and team took over.
The Acting Inspector General of Police, Maj Gen Tumusiime Katsigazi, has revealed that some police officers are deserting the force because of loans.
Katsigazi, who assumed IGP roles on March 4, after his boss Martin Ochola’s contract expired, said loan-related desertions are emanating from borrowing by impulse.
Katsigazi who was speaking on March 27,2024 while addressing police officers during the force’s Exodus SACCO Annual General Meeting (AGM) at police headquarters Naguru, said “Police’s Exodus SACCO had several issues before a new leadership team chaired by Senior Commissioner of Police –SCP Wilson Omoding was elected,”
According to URN, police SACCO has gradually grown in savings and assets since 2020 when SCP Omoding and team took over.
However, SCP Omoding said that, “the SACCO still faces a challenge in meeting loan demands because of low savings and mass withdrawals of deposits,”
But Katsigazi believes that, “many police officers borrow money to please women or to compete with their neighbors,”
SCP Omoding said despite a slight increase in total deposits from 30.6 billion shillings in 2022 to 31.7 billion shillings in 2023 translating to a 3.1 percent growth, the minimal deposits growth was largely influenced by a flexible savings withdrawal policy, enabling members to access portions of their savings during the year.
Exodus SACCO equity also saw growth, climbing from 25.5 billion shillings in 2022 to 35.2 billion shillings in 2023, representing a 38.1 percent increase.
Maj Gen Katsigazi urged Exodus SACCO to emulate Wazalendo SACCO of Uganda People’s Defence Forces (UPDF) which now can give loans worth 400 million shillings to members.
Wazalendo SACCO’s liquidity and asset value is now more than 950 billion shillings.
