Microfinance officials asked to provide detailed list of Emyooga beneficiaries

The Microfinance Support Center officials were given instructions by the parliamentary Public Accounts Committee (PAC) to create an extensive list of Emyooga fund recipients for the fiscal year 2022–2023.

Additionally, PAC directed that details about the loan amounts disbursed and recovered be included in the list.

This order came after the Auditor General disclosed that more than 70% of the agency’s loans are still unpaid.

Muwanga Kivumbi, the committee chairperson noted that they are conducting an audit for the financial year, focusing on funds received, disbursed, and utilized, totaling Shs135 billion allocated for lending.

According to Kivumbi, the staff members of the Microfinance Support Center are required to keep track of the individuals who have borrowed money, when they have taken it out, and how much.

“We are auditing for a financial year, the rest of the figures that we asked for are for trend analysis and our audit purpose is for 2022/23 for the monies received and monies given out,” he said.

The Microfinance Support Center’s head of finance, John Mwebembezi, revealed that Shs152.7 billion had been set aside for Emyooga funding. This amount included both fresh and carry-forward allocations, of which Shs70.71 billion had already been disbursed.

He promised to provide the needed complete beneficiary list.

Officials from the microfinance support center are anticipated to show up on Friday at 9 a.m. with all of the entity’s financial statements, defaulters, and beneficiary lists.