Saleh advises local investors
Apr 23, 2004
THE commander of reserve force, Lt Gen. Salim Saleh, has asked local investors to start personal investments, saying the Movement government would back them
By Nicholas Kajoba
THE commander of reserve force, Lt Gen. Salim Saleh, has asked local investors to start personal investments, saying the Movement government would back them.
Saleh was on Tuesday launching the Development Micro-finance bank at Sonde in Mukono district.
He said the Government could not solely develop the economy and needed assistance from local investors.
Saleh said he started up a revolving fund to help Luweero residents but they misused the funds.
He said he gave out sh130m in one parish at an interest rate of 2% but the beneficiaries failed to return the money, hence failing the scheme.
He advised the public to support government programmes that aimed at fighting poverty.
Saleh asked micro-finance institutions to reduce on the interest rates.
State minister for finance Isaac Musumba commended private individuals with micro-finance institutions for helping the masses.
He said the Government was committed to working with private investors in improving the livelihood of individuals.
THE commander of reserve force, Lt Gen. Salim Saleh, has asked local investors to start personal investments, saying the Movement government would back them.
Saleh was on Tuesday launching the Development Micro-finance bank at Sonde in Mukono district.
He said the Government could not solely develop the economy and needed assistance from local investors.
Saleh said he started up a revolving fund to help Luweero residents but they misused the funds.
He said he gave out sh130m in one parish at an interest rate of 2% but the beneficiaries failed to return the money, hence failing the scheme.
He advised the public to support government programmes that aimed at fighting poverty.
Saleh asked micro-finance institutions to reduce on the interest rates.
State minister for finance Isaac Musumba commended private individuals with micro-finance institutions for helping the masses.
He said the Government was committed to working with private investors in improving the livelihood of individuals.