Thirty farmer Saccos to access govt microfinance funds

Kampala

A total of 30 farmer led Savings and Credit Cooperatives (Saccos) from seven districts in Busoga Region have received start up kits in the move to strengthen them to access government microfinance.

The Saccos received the Kit comprising of money safe, filing cabinets, motorcycles, computers and stationary worth Shs25 million per Sacco and funds to pay for a manager, a cashier, a guard for two years as well as funds for rent and office refurbishment as government commitment to ensure sustainability of Saccos as rural financial institutions.

The Chief Executive Officer of the Uganda Cooperative Savings and Credit Union (UCSCU) Limited Wilson Kabanda said the facilities channeled through his organization would help rural people to strengthen and ease access financial services.

Mr Kabanda said the Saccos would be organised and capacitated to access financial services from government as loan to boost farm productivity hence increased income generation.

“These Saccos are owned and managed by you (rural people) but government through UCSCU is giving assistance to help your Saccos develop into strong and self reliant organizations.

We are targeting 1085 SACCOs countrywide from 80 districts to have them community initiated, controlled and used, mobilized and retain resources with in the localities, Mr Kabanda said.

The CEO delivered the kit on Saturday (March 7) at the official opening of the UCSCU offices in Busoga Region held in Iganga Town.