Rwenzori region stuck poverty funds
May 17, 2009
THE Microfinance Support Centre in the Rwenzori region has failed to utilise sh4b. The money was supposed to be accessed by savings and credit cooperative societies as loans under the Prosperity-for-All programme.
By Bernard Masereka
THE Microfinance Support Centre in the Rwenzori region has failed to utilise sh4b. The money was supposed to be accessed by savings and credit cooperative societies as loans under the Prosperity-for-All programme.
The Kabarole support centre supervisor, Joseph Okello, said few cooperative societies had applied for the money in the region.
Okello was on Saturday addressing members of Ikongo cooperative society at Bwera Primary Teachers’ College in Kasese district. He said Ikongo was the only cooperative society from Kasese district to access the funds.
“Out of the sh4b, the district has only acquired sh100m,†Okello said.
The support centres coordinate the credit support programme in Kabarole, Kasese, Kyejonjo, Bundibugyo and Kamwenge districts.
Okello said some cooperative societies, which applied for funds, had failed to meet the required standards.
Cooperative societies are required to be registered and to have more than 300 members.
Kasese district vice-chairperson Joshua Masereka said only eight cooperative societies in the district were selected to benefit from the Prosperity-for-All programme.
THE Microfinance Support Centre in the Rwenzori region has failed to utilise sh4b. The money was supposed to be accessed by savings and credit cooperative societies as loans under the Prosperity-for-All programme.
The Kabarole support centre supervisor, Joseph Okello, said few cooperative societies had applied for the money in the region.
Okello was on Saturday addressing members of Ikongo cooperative society at Bwera Primary Teachers’ College in Kasese district. He said Ikongo was the only cooperative society from Kasese district to access the funds.
“Out of the sh4b, the district has only acquired sh100m,†Okello said.
The support centres coordinate the credit support programme in Kabarole, Kasese, Kyejonjo, Bundibugyo and Kamwenge districts.
Okello said some cooperative societies, which applied for funds, had failed to meet the required standards.
Cooperative societies are required to be registered and to have more than 300 members.
Kasese district vice-chairperson Joshua Masereka said only eight cooperative societies in the district were selected to benefit from the Prosperity-for-All programme.