By Augustine Mumbere,
Mr. John Monday Wakighoma, the local council three chairperson for Kitswamba town council in Kasese district has urged Sacco leaders to prioritize financial literacy without which Sacco members may not know the importance of saving and proper management of loans.
Speaking to Kasese Guide Radio in Kasese town shortly after disbursing seed fund worth about 120 million shillings to the benefiting groups in Busongora County North yesterday(19th.April.2024), Mr. Wakighoma who commended Kitswamba Community Development Center for the funds, blames financial mismanagement to failure to have and stick to their plans, record keeping and non-success savings by borrowers.
Mr. Wakighoma whose organization also benefited one group from Kanyangeya in Kasese Municipality however urged the beneficiaries to put the money to proper use and promote the savings culture if they were to minimize their financial challenges. Mr. Wakighoma speaking……
Ms Yodesi Mbambu and Ms Kabugho Nya-Monday like other beneficiaries commended Mr. Wakighoma, the organization’s Chief Executive Officer for the low interest loans they said will save them from the stressing monies they borrow from money lenders and other institutions for businesses to improve their living conditions.
Ms. Nyamonday and Ms. Yodesi speaking……
Twenty-five groups benefited from the funding. END