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EXCLUSIVE: Storm at Cotton On funded Sacco as top boss is sacked over fraud, his juniors placed under investigation

Women group under Cotton On Foundation  development initiative to transform communities (PHOTO/Courtesy).

RAKAI — Mannya Parish SACCO (MAPSACCO) General Manager Fred Kayiira has been sacked over gross fraud and poor governance, UgStandard has learnt.

A reliable source at Cotton on Foundation, the organization that supported the establishment and operations of Mannya Parish SACCO said Mr. Kayiira has been sacked over fraud and mismanagement of funds.

“He (Mr Kayiira) [the General Manager] has been dismissed for fraud. People reported him to Father (Parish Priest) over his conduct,” the source who preferred anonymity said.

The source also added that Mr. Kayiira’s juniors including Mr. Elimiya Misingo who is the credit and loans officer, Mr. Chris Lwanga, the Field officer and a one Annette have been placed under investigations in connection with alleged fraud.

The source said the trio is among others being investigated over conspiracy to defraud the SACCO and failure to report their boss to authorities.

The trio has been reporting to Mr. Kayiira who has been in the organization for five years.

Fr. Nestus Mugisha and Mr. Tim Diamond reportedly sanctioned the sacking of Mr. Kayiira (PHOTO/Internet)

The source did not provide details of the alleged fraud but said Cotton on Foundation and Mannya Parish leadership agreed to sack him after numerous cries from SACCO members who alerted Parish Priest Fr. Nestus Mugisha on the matter.

UgStandard has learnt that Cotton on Foundation leadership in Australia sanctioned the immediate sacking of Mr. Kayiira from the organization.

Mr. Kayiira was recruited into Cotton On Foundation as a Development Community Conditioner in 2011 to supervise women groups, Microfinance, adult literacy projects among others.

Cotton on Foundation started the MAPSACCO to provide accessible and affordable financial services that are helping rural communities of Mannya to educate their children, establish small businesses, and improve on their housing and agricultural practice among other economic activities (PHOTO/Courtesy).

Some of the projects including bee keeping, heifers immediately were closed after funders pulled out resources over reports of fraud.

Mannya Police has since picked up the matter and said when investigation are complete Mr. Kayiira will be charged with embezzlement.

 

Cotton on Foundation started the MAPSACCO to provide accessible and affordable financial services that are helping rural communities of Mannya and others to educate their children, establish small businesses, and improve on their housing and agricultural practice among other economic activities.

The other support provided included but not limited to office space & equipment, initial loan capital and payment of staff salaries among others.

The Foundation currently has projects in Rakai and Lwengo districts with plans to expand into other areas in Southern Uganda.

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