The Microfinance Support Centre Limited (MSC) is Government owned company under the Ministry of Finance, Planning and Economic Development.
YEAR OF LAUNCH
NUMBER OF CLIENTS
Kabale, Kanungu, Kisoro & Rukungiri
1143 Kabale Road, Box 982 Kabale, 039 2770110
THE MICROFINANCE SUPPORT CENTRE FINANCES SACCOS IN KIGEZI
The Microfinance Support Centre extended loans worth 1 billion shillings to SACCOs in the Kigezi region. This took place on 14th November 2015 at White Horse Inn Kabale. The function was presided over the Rt. Hon. Prime Minister Dr. Ruhakana Rugunda. Also in attendance was Hon. Henry Banyenzaki Minister of State - Economic Monitoring who represented the Minister of Finance Planning and Economic Development Hon. Matia Kasaijja.
The institutions that received cheques included Lyamujungu Co-operative Financial Services,
Rukiga Savings and Credit Scheme Co-operative Society and Buyanja SACCO who received
400million, 350million and 200 million respectively. Four Teachers' SACCOs were also
presented cheques, including Mutolere Primary School SACCO, Kabale Town Based Teacher's
SACCO, Murora Teachers' SACCO and Kabale Universal Staff SACCO who recived 20
million, 15 million, 20 million and 10 million respectively.
While presenting the cheques at White Horse Inn Kabale, Prime Minister Ruhakana Rugunda
noted the importance of financing rural enterprises to enhance productivity and reduce poverty.
He informed the guests at the fuction that government had implemented several programmes
including the Entadikwa Scheme, the Poverty Alleviation Project and the Rural Microfinance
Project among others. "All these programme are aimed at improving the welfare of Ugandans,"
The Prime Minister was happy to note that MSC has contributed to building a rural financial
infrastructure for services delivery through provision of management capacities to grass root
financial institutions. He also pledged government's continued commitment in supporting the
financial services sector and particularly MSC that has exhibited the competence and capacity to
deliver on these programmes. He thanked the institutions that received cheques, for their vital
contribution to the government agenda.
Hon. Henry Banyenzaki mentioned that MSC was set up to provide affordable credit and
business development services to Ugandans with special emphasis on poor households. He also
observed that the interventions put in place by government have contributed to the reduction of
poverty in the country. Hon. Banyenzaki decried fraud in some SACCOs that has caused some to
collapse and close with members' savings. "The Ministry of Finance is facilitating the
enactment of a Tier 4 Microfinance bill to provide a legal framework for institutions offering
financial services currently not regulatory by Bank of Uganda" said the Minister," when
enacted, the law will safeguard members' savings."
At the same occasion, the Board Chairperson MSC, Mrs. Justine Bagyenda said the company has
so far disbursed 210 billion shillings in support to SACCOs, Cooperative Unions and Small and
Medium Enterprises across the country.