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Sironko credit unit funds 18 teachers

By Vision Reporter

Added 7th March 2006 03:00 AM

THE National rural urban (NARU) savings and credit cooperative society, Sironko branch, has given loans worth sh41m to help 18 teachers upgrade their academic qualifications, the branch manager, Robert Masette, has said.

THE National rural urban (NARU) savings and credit cooperative society, Sironko branch, has given loans worth sh41m to help 18 teachers upgrade their academic qualifications, the branch manager, Robert Masette, has said.

By Rashid Muzungyo
THE National rural urban (NARU) savings and credit cooperative society, Sironko branch, has given loans worth sh41m to help 18 teachers upgrade their academic qualifications, the branch manager, Robert Masette, has said.
“We have given out sh14m to help teachers in primary and secondary schools to acquire higher academic qualifications,” Masette said.
He said the beneficiaries were among the 210 members attached to the branch.
Masette said the beneficiaries, who have already acquired grade III certificates and diplomas in teaching, would service the loans through monthly installments to enable the branch extend services to other people.
Masette said the money was part of a grant from the International Labour Organisation to boost NARU’s financial services. He said part of it was drawn from the members’ savings.
He said the branch also extended credit to farmers and businessmen.
Masette said the cooperative society was helping individuals to acquire assets such as land and build residential houses for their families.
He said the branch was facing the problem of low operational capital, inadequate transport and failure of borrowers to service their credit.
NARU also operates in Manafwa, Mbale, Bugiri and Kampala districts, where it has offices.
Ends

Sironko credit unit funds 18 teachers

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