Nicholas A
Aryanyojuka Ezra, the Ntungamo District Commercial Officer, urged Ugandans to embrace and endorse the collective effort of joining SACCOs to eradicate poverty. He made these remarks yesterday while inaugurating the Kabungo branch of Kashanda Tukore SACCO in Kabungo Ward, Kakukuru Rwenanura Town Council, Ntungamo District.
Aryanyojuka implored the residents of Kabungo and the entire Ruhaama area to utilize this SACCO to improve their living standards. He emphasized that through saving, borrowing, and repaying loans on time, development in the area would be fostered.
Amanya Ivan Rwanyakibare, the SACCO Board Chairperson, outlined the objectives of opening the Kabungo branch. These include bringing banking services closer to customers in Magingo and surrounding areas, exploring the importance of social responsibility and mindset change, educating people on the importance of saving and cooperative principles, and empowering women, youth, and people with disabilities by providing soft loans.
Rwemarira Robert, the LC 1 Chairperson of Kabungo 1 B, commended the Kashanda SACCO authorities for bringing their services to the area. He noted that this move would pave the way for development. However, he stressed the need for a good working relationship between SACCO authorities and local leaders to prevent multiple borrowers from using the same property as collateral in different financial institutions.
The Kabungo Ward Chairperson mentioned that due to developments in the area, such as a secondary school, weekly market, and trade activities, there has been a need for a financial institution. He noted that the newly opened Kashanda Tukore SACCO branch would empower residents by providing loans and educating them on financial discipline.
Kashanda SACCO, which started in 2017, currently has a membership of 20,280 and operates two branches: the Kabungo Branch and the main branch in Kashanda.
