THE MICROFINANCE CENTRE FINANCES GROUPS IN KARAMOJA
January 19, 2016
The Microfinance Support Centre (MSC) extended loans worth 471 million shillings to Village Savings and Loan Associations in the Karamoja region. The money was extended to 41 groups in Abim district, 8 groups in Moroto district and 1 group from Kotido district. This took place on the 19th January 2016 in Abim town and 20th January 2016 in Moroto town. The function was presided over by Mr. Fred Mwesigye who represented the Chairperson of MSC Mrs. Justine Bagyenda. Other Board members present were Mr. David Baguma, Mr. Albert Odoi and Mr. Timothy Lubanga. The MSC Executive Director represented by the Director Credit and Operations Mr. Thomasmore Katutsi.
While addressing the invited guests, Mr. Mwesigye informed the Group members present that MSC was committed to building empowered communities through partner organizations like SACCOs, Village Savings & Loans Associations (VSLAs). He informed the guests at the function that in order to empower communities in Karamoja, MSC had moved a step further and commenced implementation of Group loan product to ensure easy access to affordable credit in Karamoja region. He urged the beneficiaries to utilize the funds to grow their businesses.