Senior Reporter
The General Secretary of the Uganda Cooperative Alliance (UCA)Ivan Asiimwe, has emphasized that the root of poverty in Uganda is a mindset issue.
He pointed out that poverty results from a lack of cooperation and advocated for the establishment of cooperatives in alignment with President Yoweri Museveni’s call to all Ugandans.
This message was conveyed during a one-day mobilization and training workshop for members of the Kajara People’s Cooperative Savings and Credit Society LTD (KAPSACCO) at the Rwamugyenyi Heritage Hotel in Kajara county, Ntungamo District, which is the main branch of KAPSACCO.
Asiimwe called upon members of Kajara People’s Sacco from all four branches in Ntungamo Municipality, Kafunjo-Mirama Town council, Omukiyenje-Kyafoora, and Rwashamaire to invest their money in Kajara SACCO. This, he believed, would contribute to the development, growth of the SACCO, and ultimately the reduction of poverty. He also encouraged every member to designate a next of kin to safeguard their funds in case of unforeseen circumstances.
Geoffrey Nyakatukura, the District Commercial Officer of Ntungamo, urged people to join Kajara People’s Sacco as a means to avoid exploitation by moneylenders commonly referred to as “Kafuna,” who often impose high interest rates and may seize their assets, including land.
Nyakatukura commended the Chairman of the Board of Directors, Gen Jim Wills Byarugaba, the staff, and the members of KAPSACCO. He encouraged them to increase their shares, savings, and loan utilization to facilitate the expansion of the SACCO into a bank.
Gen Jim Wills Byarugaba, the Chairman of the Board of Directors of Kajara People’s Cooperative Savings and Credit Society LTD, called on founding members and others to encourage their children to join the SACCO, making it stronger for future generations. He also expressed gratitude to the members and staff for their cooperation, which has contributed to the SACCO’s success.
Benon Musinguzi, the Supervisor of SACCOs in Western Uganda, praised the board for rejuvenating Kajara SACCO. He urged all members to embrace a savings culture by depositing at least UGX 500 daily.
Akamukwatsa Yusufu, the General Manager of Kajara SACCO, disclosed that the SACCO has more than 5,600 members, a loan portfolio of 1.8 billion shillings, and savings amounting to 3 billion shillings. He highlighted that one of their challenges is dormant members and loan defaults.
The event was attended by various individuals, including District Internal Auditor Kwesigamukama Ezra, Elliott Kabangira Magande (General Manager of Radio Ankole), and Rev. Canon Charles Kapson, among others.
