SACCOs advised on records
Sep 20, 2009
THE board members of Savings and Credit Co-operative Societies (SACCOs) should acquire elementary skills in book keeping, the Uganda Co-operative Savings and Credit Society (UCSCU) has said.
By Frederick Kiwanuka
THE board members of Savings and Credit Co-operative Societies (SACCOs) should acquire elementary skills in book keeping, the Uganda Co-operative Savings and Credit Society (UCSCU) has said.
Eriasafu Kayizzi, one of the UCSCU board members, said it was easy for workers to swindle savings if the administrators lacked book keeping knowledge.
He was speaking during a five-day workshop at Luweero’s Lyidirens Hotel last week.
The workshop, which was attended by board members and managers of 17 SACCOs in central Uganda, was aimed at building the capacity of savings organisations.
Kayizzi, who is also the chairman of Luweero District Teachers’ Savings and Credit Co-operative Society, urged the society managers to be transparent and honest.
He said savings groups can grow strong if they generate their own funds through mobilisation of savings instead of relying on borrowing. Kayizzi also cautioned the managers against involving politics in the operation of their activities.
The Luweero chief administrative officer, Nelson Kirenda, appealed to savings groups to work as change agents in society.
The participants appealed to the Government to implement a law that would regulate SACCOs to protect members’ savings.
THE board members of Savings and Credit Co-operative Societies (SACCOs) should acquire elementary skills in book keeping, the Uganda Co-operative Savings and Credit Society (UCSCU) has said.
Eriasafu Kayizzi, one of the UCSCU board members, said it was easy for workers to swindle savings if the administrators lacked book keeping knowledge.
He was speaking during a five-day workshop at Luweero’s Lyidirens Hotel last week.
The workshop, which was attended by board members and managers of 17 SACCOs in central Uganda, was aimed at building the capacity of savings organisations.
Kayizzi, who is also the chairman of Luweero District Teachers’ Savings and Credit Co-operative Society, urged the society managers to be transparent and honest.
He said savings groups can grow strong if they generate their own funds through mobilisation of savings instead of relying on borrowing. Kayizzi also cautioned the managers against involving politics in the operation of their activities.
The Luweero chief administrative officer, Nelson Kirenda, appealed to savings groups to work as change agents in society.
The participants appealed to the Government to implement a law that would regulate SACCOs to protect members’ savings.