589 savings groups by 2009
Nov 12, 2006
<br>THE Government plans to establish Savings and Credit Cooperatives (SACCOs) in every sub-county by 2009, the microfinance minister has said.
By Conan Businge
THE Government plans to establish Savings and Credit Cooperatives (SACCOs) in every sub-county by 2009, the microfinance minister has said.
Gen. Salim Saleh said 589 SACCOs would be created.
“SACCOs will help us in creating a nationwide network of rural financial infrastructure and ensuring adequate regulation and supervision of rural finance institutions to safeguard members’ deposits.
“The population should be having access to loans at affordable interest rates and every household should have a savings account,†he said.
Saleh (above) was yesterday addressing the Makerere University Business School Finance Students Association at the campus.
Saleh said the Government would work with communities to develop SACCOs.
“We want to help people who are already helping themselves. People thought we were going to lend them money directly, but We shall not repeat this. We learnt from the past experience (entandikwa schemes),†Saleh said.
Ends
THE Government plans to establish Savings and Credit Cooperatives (SACCOs) in every sub-county by 2009, the microfinance minister has said.
Gen. Salim Saleh said 589 SACCOs would be created.
“SACCOs will help us in creating a nationwide network of rural financial infrastructure and ensuring adequate regulation and supervision of rural finance institutions to safeguard members’ deposits.
“The population should be having access to loans at affordable interest rates and every household should have a savings account,†he said.
Saleh (above) was yesterday addressing the Makerere University Business School Finance Students Association at the campus.
Saleh said the Government would work with communities to develop SACCOs.
“We want to help people who are already helping themselves. People thought we were going to lend them money directly, but We shall not repeat this. We learnt from the past experience (entandikwa schemes),†Saleh said.
Ends