Minister launches SACCOs in Busia
Sep 06, 2007
Five sub-county savings and credit cooperatives societies (SACCOs) have been launched in Samia Bugwe South constituency in Busia district.
By Egessa Hajusu
Five sub-county savings and credit cooperatives societies (SACCOs) have been launched in Samia Bugwe South constituency in Busia district.
The cooperatives will begin operating with the sh10m Constituency Development Fund given to the area MP, Gabriel Opio.
Speaking at the launch in Masaba and Buhehe sub-counties on Monday, Opio cautioned the authorities against mishandling the money which is supposed to enable residents access small loans to engage in income-generating activities.
“Let us train our people to begin borrowing from our little cooperatives as we prepare them for the money from Gen. Salim Saleh.†Opio said each cooperative would get sh1.5m.
The money will be borrowed at zero percent interest and he advised local leaders not to run the cooperatives like micro- finance instructions.
He cautioned FDC sympathisers against sabotaging Government programmes in the district.
Five sub-county savings and credit cooperatives societies (SACCOs) have been launched in Samia Bugwe South constituency in Busia district.
The cooperatives will begin operating with the sh10m Constituency Development Fund given to the area MP, Gabriel Opio.
Speaking at the launch in Masaba and Buhehe sub-counties on Monday, Opio cautioned the authorities against mishandling the money which is supposed to enable residents access small loans to engage in income-generating activities.
“Let us train our people to begin borrowing from our little cooperatives as we prepare them for the money from Gen. Salim Saleh.†Opio said each cooperative would get sh1.5m.
The money will be borrowed at zero percent interest and he advised local leaders not to run the cooperatives like micro- finance instructions.
He cautioned FDC sympathisers against sabotaging Government programmes in the district.