Banyankore Kweterana finds its feet

The Banyankore Kweterana Cooperative Union is moving closer to regain its past glory as the major cooperative union in the Ankole region, its directors have said.
The chairman board of directors, Mr Geoffrey Beingana, said last week at the annual general meeting that the cooperative society has been able to gain back its land titles and property that was confiscated over a Shs12.6 billion loan from the defunct Cooperative Bank.

Among the properties that were confiscated include land titles of factories at Bushenyi, Ndeija in Mbarara and Bwongyera in Ntungamo District.

No longer haunted
“We have been haunted by the psychological warfare that the society died but we are now on the verge of revival and nothing will stop us,” said Mr Beingana.

The society has also been able to purchase coffee worth Shs616.5 million and realised Shs26.3 million as profit from its graded coffee, said Mr Beingana.
Despite the move by the society to gain its past glory, the society is still indebted with Shs278.5 million to Stanbic Bank.

However the society’s lawyer also Kajara County MP, Mr Steven Tashobya, assured members that they are negotiating with the financial institution to have the loan paid in installments.

Mr Tashobya also advised the society members to always think of diversifying enterprises.