NO MORE SLEEP! Panic Grips Saccos as Museveni appoints Blue-eyed boy to oversee the performance of revolving funds in the informal sector

A wave of anxiety is sweeping through informal sector Savings and Credit Cooperative Organisations (SACCOs) following the appointment of Mr. Ian Gumisiriza Jeremiah as Special Presidential Assistant on the Informal Sector.

His mandate includes a rigorous oversight of the revolving funds disbursed to various groups, and whispers of accountability are sending jitters through members who have allegedly dipped into these funds for personal use.

Sources close to the new presidential appointee indicate that a comprehensive audit is imminent, with a particular focus on SACCOs that have shown poor repayment rates or irregular fund utilization. Gumisiriza Jeremiah is reportedly keen on ensuring that the revolving funds, intended to empower small businesses and entrepreneurs, are channeled effectively and sustainably.

In 2022 we broke a story on how President Museveni had personally blown the cover of his informant during a meeting to streamline the administration of public markets in Kampala Metropolitan Area. Gumisiriza singlehandedly convinced the President to direct government to repossess markets which had been leased to private businessmen in order to protect the vendors from exploitation.

Our source informed us that Gumisiriza is the author of numerous revolving funds that were dished out by the President before and during the campaign much as he remained in the shadows having fallen out with some powerful women in the administration of State House which led to his resignation from the National Secretariat for Patriotism Corps.

The looming crackdown comes at a time when President Yoweri Kaguta Museveni has repeatedly stressed the importance of financial discipline among beneficiaries of government programs. In a September 2025 address to Boda Boda riders in Kampala Metropolitan Area while handing over a cheque of 10.2 billion shillings to the Saccos, the President issued a stern warning: “Whoever misuses this SACCO money, I will go after them. I also want accountability for the 2011 Boda Boda SACCO funds because I want to know what happened.”

President Museveni directed the SACCO members not to use the funds to repay debts from money lenders but rather purchase new motorcycles for their fresh start, a directive we have learnt it was since ignored.

On 16th December 2025, the President also pledged to give SACCOs of salon operators across the country 85 billion as a revolving fund. However, the number of salon operators we spoke to said they have never received any money and they have no hope of ever receiving it as they allege it has been beaten by the leaders of the Federation who are NRM Cadres.

Other Presidential revolving funds include 7 billion shillings to Mechanics SACCOs in Kampala Metropolitan Area, 5 billion shillings to Tiktokers, 7 billion shillings to music promoters, over 1 billion to journalists in Sub-regions given during the PDM Tour, 1.8 billion to MCs in 18 Zonal regions, 8.8 billion to Presidential hubs bringing the total close to 126 billion shillings.

The President’s firm stance, coupled with Mr. Gumisiriza Jeremiah’s focused mandate, has led many SACCO members, particularly those in the informal sector, to review their financial dealings. The fear of potential sanctions, including arrests and recovery efforts, is palpable.

Many are reportedly rushing to regularize their accounts and ensure all outstanding loans are settled before the impending audits begin. The coming weeks are expected to be Kisanja No More Sleep.