Man vanishes with Shs 3 billion from Kampala traders Sacco

Police have launched a manhunt for leaders of Kamu Kamu Traders SACCO following allegations that they mismanaged and disappeared with more than Shs 3.1 billion belonging to traders in Kampala.

The SACCO, which reportedly had over 800 members, is accused of withholding savings from traders who say they have been demanding their money since last year without success. The affected members are now calling on the State Minister for Microfinance, Haruna Kasolo, to intervene and ensure they recover their funds.

Some of the SACCO administrators have been identified as Hassan Muhoozi, Kaye Lawrance, Adrine Ssebulime and Yosaya Waiswa. However, several of them are said to have gone into hiding.

Anthony Mweruka, one of the affected traders, said efforts to recover their savings have been unsuccessful.

“When people tried to come back to collect their money, the administrators went into hiding. We have gone to police but we have not got any help,” he said.

Other members described dire conditions following the loss of their savings. “We do not have what to eat, we don't have money,” said Najib Ssemowgerere.

Farouk Lugoloobi said he personally saved Shs 26 million in the SACCO, adding that members included traders, porters and business owners who contributed daily. “We were saving every day,” he said.

Some members further alleged that SACCO leaders used the names of high-ranking government officials to gain trust and avoid scrutiny. Francis Ssebatta claimed that they were told the SACCO was linked to Muhoozi Kainerugaba.

“We are not here to incite anyone. But we ask that if the SACCO indeed belongs to Gen Muhoozi; they should help us and just give us back our Shs 3 billion,” he said.

Kampala Metropolitan Police spokesperson Racheal Kawala confirmed that one suspect, Kaye Lawrance, the SACCO treasurer, was arrested on March 8 and is currently on remand. She added that police are continuing efforts to track down the remaining executives.

The case has raised fresh concerns over accountability and trust in informal savings groups, particularly among small-scale traders who rely on such schemes for financial security.