Apac teachers SACCOs boosted with sh250m

APAC - Apac teachers' Cooperative Savings and Credit Society LTD has received sh250m from the government to facilitate development activities and be used as revolving fund.

The Registrar of the cooperative society in Uganda Ocatum Joseph Paul in a circular dated March 18th, 2016 stated that the fund will be used as a revolving fund payable after two years once borrowed.

Ocatum said in the circular that they have noted with concern the request received from Apac SACCOs last December of a revolving fund but noted that they could not give the required fund requested to the tune of sh400m but only sh250m

Apac district teachers' Association have a total number of 433 members who are practicing teachers from primary, post primary and other tertiary institutions.

The District Education officer Billy Okunyu and the Secretary of the Apac district teachers Association could not be reached for comments by time of filing this report.