Fr. Kiibi added that investigations into the alleged embezzlement are already underway by the State House Anti-Corruption Unit, and those found culpable will be held accountable.
Rev. Fr. Deogratius Kiibi, Parish Priest of St. Joseph’s Parish Mpigi, has assured parishioners that the State House Anti-Corruption Unit has begun investigating individuals accused of embezzling funds from Kwagaliza Savings SACCO, which led to its collapse.
Fr. Kiibi explained that Kwagaliza SACCO was established with strong ties to St. Joseph’s Parish Mpigi and was largely supported by parishioners. Among its founders was a Catholic priest, although the SACCO was not initially registered under the parish.
Following its collapse, he noted, money lenders have taken advantage of the situation, offering loans at high interest rates and putting borrowers at risk of losing their property used as collateral.
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“Money lenders charge interest of more than 10 percent. I became concerned and started exploring ways to help our people save and access affordable credit,” he said.
Fr. Kiibi made the remarks on Saturday evening during the requiem Mass of the late Kalisiti Terwanire (71) at Bboza Village in Mpigi Town Council, Mpigi District.
He revealed that, in partnership with Caritas Kampala Archdiocese, the parish has resolved to revive Kwagaliza SACCO—this time fully managed under the Church.
“I therefore call upon members to renew their accounts, and those who were not members to open new ones. We have plans to refund money lost by members due to mismanagement by the former SACCO leadership. The repayment plan will be implemented by the time of this year’s Annual General Meeting, starting with members who renew their accounts first,” he said.
Fr. Kiibi added that investigations into the alleged embezzlement are already underway by the State House Anti-Corruption Unit, and those found culpable will be held accountable.
“This initiative is intended to rescue our Christians from exploitative money lenders. We aim to provide loans at an interest rate of at least two percent,” he said.