Ntungamo loan defaulters cautioned
Apr 12, 2017
A budget estimate of sh2,144,931,076 for the 2017/18 financial year was approved
Uganda Cooperative Savings and Credit Union (UCSCU) CEO has warned loans defaulters to stop the habit saying they are the ones leading to the collapse of many SACCOs in the country.
Sylvester Ndiroramukama advised their sureties to be careful enough with such people.
Ndiroramukama disclosed this during the 15th AGM of Nyakyera Farmers' SACCO where he was the guest of honour.
He urged members to maintain their saving culture if they are to fight poverty and develop themselves, as they also increase on their share capitals and avoid multiple borrowing.
Ndiroramukama commended the SACCO's board chairman Francis Kamugisha and the general manager Asaph Nuwabiine for being very hard working whereby the farmers village is now developing very fast and has three branches in Kafunjo, Kiyoora and Nyakyera which are all operating in their own buildings.
The SACCO's delegates meeting held on Tuesday also recruited and allowed 516 new members to join the 3,790 members of Nyakyera farmers SACCO after fulfilling all the requirements.
The meeting sat at the SACCO's main hall at Nyakyera trading centre in Ruhaama, Ntungamo district.
A budget estimate of sh2,144,931,076 for the 2017/18 financial year was approved.
Nyakyera LC5 councillor, Augustine Kashaija, Uganda Central Cooperative Financial Services Regional Coordinator - Western, Edward Mugizi and Nyakyera LC3 chairman, Nganwa-Makaka among others attended.