According to the sources, the boat was carrying between 70 and 80 people, but only five survivors have been found and 17 bodies recovered.
Zura Ganyana, a police spokesman, said on Monday, Aug 2, that they did not expect to rescue any more survivor's from the accident which took place on Saturday, Jul 31.
The boat capsized due to overloading, she added.
A police chief in the area, Romeo Ojara, said that the boat had a capacity for only 40 people and two tons of fish.
Boat accidents are common on Uganda's lakes. In Jul more than 10 people died in a boat accident on the Ugandan side of Lake Victoria.