Defiance hurts investment, says minister

Tuesday July 26 2016

By SIMON PETER EMWAMU

Soroti- The State Minister for Microfinance, Mr Haruna Kyeyune, has expressed displeasure at the ongoing defiance campaign by the Opposition, saying it could stand in the way of government’s planned 2020 middle-income dream.

The minister was responding to concerns raised by Kapelebyong County MP, Mr Julius Ochen, who castigated government over its failure to institute regulatory bodies to control micro-finance borrowing.

Mr Kyeyune instead asked the MP to rally Opposition to stop their defiance campaign against the government until 2020 middle income dream is realised.

“You can then pick it up from there, because it frustrates investors,” Mr Kyeyune, said while officiating recently at the launch of the Project for Financial Inclusion in Rural Areas (PROFIRA) implementation in Soroti District.

State of youth
He said the youth have become myopic in thinking, adding that they don’t see far regardless of their being energetic.

Mr Kyeyune confirmed that programmes such as PROFIRA are among the many ventures lined up to have the middle income status become a reality, adding that this programme can only succeed when leaders mobilise citizens to embrace the schemes.

The minister said the project, which was funded by International Fund for Agricultural Development (IFAD), was launched in March last year, and is intended to extend financial inclusion to rural communities where access to formal microfinance services are lacking.

“PROFIRA is going to help you handle financial discipline, how to saveand other things, don’t put money under pillows,” Mr Kyeyune said.

The project targets 750 members in each PROFIRA group, 500 in each Sacco group in eastern, northern and West Nile regions.
Mr Lance Kashugyere, the project manager PROFIRA, said Uweso and Care Uganda have been chosen to implement the project in eastern Uganda.
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