BUSOGA URGED TO REVIVE COOPERATIVE UNIONS
February 28, 2016
The Rt. Hon. Speaker of Parliament Rebecca Kadaga said that Busoga needs to revive Cooperatives. This she said while presenting cheques to Village Savings and Loan Associations from Kamuli district at Century Hotel on 28th February 2016. "Busoga was built on Cooperatives and there is need to revive the practice of saving and lending" said Kadaga. She requested the district production office to set up nurseries where people can access seedlings for oranges and mangoes.
MSC commenced the implementation of Group lending in order to bring services closer to the communities and was launched in Abim district on 19th January 2016.
A total of 37 Groups received cheques totaling 120 million shillings from the Microfinance Support Centre from Kamuli districts. 30 Groups were funded through Mbulamuti Tunhinkiie SACCO while 7 were funded directly by MSC. During the same occasion the Project for Financial Inclusions in Rural Areas (PROFIRA) was launched in the district.
At the same occasion the Minister of State for Microfinance Hon. Caroline Amali Okao said there is need to continue to build SACCOs and sensitize the communities that SACCOs are not State institutions but are owned by members. She noted that working with people will help avoid past mistakes in implementing government programmes.
The Chairperson MSC Mrs Justine Bagyenda informed the Speaker that MSC was demonstrating that government money which is channelled through MSC is being put to good use. "We are trying to ensure that our people get out of poverty by working on their house hold income" said Mrs Bagyenda.
The Chief Finance Office Mr. John Mwebembezi who represented the Executive Director MSC said that mechanisms of monitoring the Groups have been put in place to ensure that the funds are managed well. He urged the Groups to invest the money wisely.