Govt mobilises rural folk over MFIs
Dec 19, 2005
THE Government has embarked on a programme to mobilise rural folks to become micro finance institutions’ (MFIs) shareholders, depositors and borrowers, the finance minister has said.
By David Muwanga
THE Government has embarked on a programme to mobilise rural folks to become micro finance institutions’ (MFIs) shareholders, depositors and borrowers, the finance minister has said.
“We are confident that this will increase savings and credit in the sector. The Government also wants to uplift the rural population into the formal economy, that is why I exempted interest earned by institutions lending to the agricultural sector,†Dr Ezra Suruma said.
Suruma was inaugurating the new board of directors for the Capital Markets Authority (CMA) at Emin Pasha Hotel in Nakasero, Kampala.
He said business people should come together to pool savings in order to raise funds.
“This development sets the path for capital markets. The need to develop and promote the markets in Uganda gave birth to the CMA,†Suruma said.
“Vital projects like power have stalled due to lack of long-term financing.
Development in the capital markets is the way forward for these problems,†he said.
THE Government has embarked on a programme to mobilise rural folks to become micro finance institutions’ (MFIs) shareholders, depositors and borrowers, the finance minister has said.
“We are confident that this will increase savings and credit in the sector. The Government also wants to uplift the rural population into the formal economy, that is why I exempted interest earned by institutions lending to the agricultural sector,†Dr Ezra Suruma said.
Suruma was inaugurating the new board of directors for the Capital Markets Authority (CMA) at Emin Pasha Hotel in Nakasero, Kampala.
He said business people should come together to pool savings in order to raise funds.
“This development sets the path for capital markets. The need to develop and promote the markets in Uganda gave birth to the CMA,†Suruma said.
“Vital projects like power have stalled due to lack of long-term financing.
Development in the capital markets is the way forward for these problems,†he said.