Mr. Emmanuel Mbogha, the Micro Support Center Regional Manager In charge of the West in Uganda has described continuous saving and increased share base as the future of the Saccos.
Addressing the 13th annual general meeting held at Nyabugando Baptist Vocation SS in Mpondwe Lhubiriha town council in Kasese over the weekend, Mr. Emmanuel who asked the members not to lose Karambi Sacco, was concerned over some Sacoos that have well sugar coated names but with no reliable financial base over limited savings, coupled with a wider range of un reliable borrowers. Mr. Emmanuel speaking…
The Kasese district Principal Commercial officer, Mr. Simon Kasereka called on Sacco members to popularize the Parish development model program whose guidelines is yet to be out soon now that each parish has been posted with a Parish chief. Mr. Kasereka speaking…..
Mrs. Afra Kyakimwa and Geneva Masika Kooli, both members of Karambi cooperative savings& credit society limited described their Sacco as a God gift in addressing their temporary financial challenges. END
Meanwhile, Saccos and other micro finance Institutions must not turn into future center of regrets over un cleared loans but rather their leadership should insure them for the peace of the members, says Mr. Morris Bwakyanasonga, a business banker and in charge of SACCOs at Stanbic Bank, Kasese branch.
At 10th Kwaujumula Sacco annual General meeting at Uhuru 50 Hotel in Kasese Municipality yesterday, Mr. Morris was concerned that without Insurance, families of many deceased members have remained victims of un cleared loans.
The business banker was reacting to a speech by the Chair person Board Kwaujumula Sacco Mr. Medard Muramuzi who said their Sacco was in possession of a motorcycle that had been handed over to them by the family of their deceased member over un cleared loan bill.
He said Insurance for example at Stanbic would cover the losses in case of death to protect the dignity of the fallen Sacco member, property and save his family from un called for inconveniences. Mr. Morris speaking…..
Mr. Morris who later asked Saccos in Kasese to benchmark their counterparts in Bushenyi, warned Sacco members against investing borrowed monies in un productive ventures that frustrate plans for refund as required.
Mr. Morris speaking2……
Kwaujumula Sacco based in Kasese Municipality but with a branch in Ibanda, has 551 members, with over 74 million shillings savings in savings. END