Editor
Asiimwe Robert, from the Uganda Co-operative Alliance (U.C.A), emphasized the importance of unity and focus among SACCO board members for the development of their respective SACCOS.
Speaking as the guest of honor during the 24th Annual General Meeting of Muntuyera Co-operative Savings and Credit Limited at Muntuyera High School Kitunga in Kajara County, Ntungamo District on Saturday, Asiimwe stressed the need to eradicate poverty at the household level for socio-economic transformation.
He urged members to utilize loans wisely and ensure timely repayment. Rev. Nahoora Benson, the Chairman of the Board of Directors, expressed gratitude to board members for their cooperation in achieving the SACCO’s milestones.
Rev. Nahoora also addressed concerns about high loan default rates, urging defaulters to honor their repayment obligations promptly. He cautioned LC1 chairpersons to exercise vigilance when endorsing loan applications to prevent individuals from leveraging the same collateral to acquire loans from multiple financial institutions.
Kwarisiima Agnes, the SACCO manager, encouraged members to strive for a minimum of ten shares each, highlighting the need to boost savings rates by increasing minimum balances.
Muganga Joseph, the SACCO’s patron and head teacher of Muntuyera High School, expressed gratitude to the SACCO’s founders for their enduring support since its inception.
Other speakers included Rev. Can. Cranmer Mwesigwa, Chairperson of the Loans Committee; Rwehururu Chris, Chairperson of the Supervisory Committee; and Habimaana Samuel, the SACCO Treasurer
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