Credit scheme has saved us Kakira staff
Dec 05, 2003
Sir - Workers of Kakira Sugar works are finding life a little bit better after they recently realised the use of their long-established credit scheme
Sir - Workers of Kakira Sugar works are finding life a little bit better after they recently realised the use of their long-established credit scheme.
The co-operative savings and credit society now banks and lends money to the workers. The workers used to borrow money from rich people at an interest of 100%, a business referred to here as America.
“We get loans, pay it at a time you feel is convenient. This business of borrowing America is no more. The interest in the first place is friendly, 4%†said Denis Mukama.
The society’s secretary manager, Lucy Nyanga, said they would start other services to improve the worker’s welfare.
Bernard Omalla
Kakira, Jinja
The co-operative savings and credit society now banks and lends money to the workers. The workers used to borrow money from rich people at an interest of 100%, a business referred to here as America.
“We get loans, pay it at a time you feel is convenient. This business of borrowing America is no more. The interest in the first place is friendly, 4%†said Denis Mukama.
The society’s secretary manager, Lucy Nyanga, said they would start other services to improve the worker’s welfare.
Bernard Omalla
Kakira, Jinja