SACCOS pivotal to Prosperity for All programme - Museveni

By Vision Reporter

The President donated sh20m to Ntungamo Municipality People With Disability Cooperative Savings and Credit Society Ltd

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President Yoweri Museveni has said that the role of Savings and Credit Cooperative Societies (SACCOS) is to improve the pillars of the government's Prosperity for All programme.

"I pronounced Bonna Bagaggawale/Prosperity for All in 1995. It is based on 4 pillars namely, production, value addition, information and financial services. SACCOS fall under financial services and their roles are to improve the 4 pillars. It is your hard work and commitment towards nation-building that will ensure the success of your SACCOS," he said.

The President made the remarks on Friday at Ntungamo district headquarters in South Western Uganda, in a speech delivered on Museveni's behalf by the head of State House's Anti-Corruption Unit, Lt Col Edith Nakalema, during the launch of Ntungamo Municipality People With Disability Cooperative Savings and Credit Society Ltd.

The President donated sh20m to the SACCOS to boost its activities.

Nakalema gave out prizes to the best performing members of the SACCOS that saw Francis Taremwa scoop the prize for excelling in savings while Privah Nsasiirwe excelled in the number of shares. He called on the members to maintain discipline adding that it will ensure the success of their venture.

The President expressed confidence that the SACCOS would prosper. He, therefore, urged the members to guard the project they had embarked on jealously and advised them to take advantage of the talents of their leaders.

He also congratulated them for their commitment and sacrifice but strongly reminded them that it is important to pay back the loans they have accessed.

Museveni stressed the usefulness of SACCOS as instruments that ensure the culture of saving among the population. He thanked the founders of the SACCOS, the management and the shareholders for the pivotal role in the establishment of the venture.

The Ntungamo Resident District Commissioner, George Bakunda, saluted President Museveni and the NRM government for numerous development projects in the country and for the emancipation of the people with disability.

He commended Nakalema for her work in fighting against graft and also for toiling for peace in Uganda. He used the occasion to advise members to be faithful to their SACCOS.

One of the prominent elders in Ntungamo district, Frederick Rwabukwitsi, while calling for a high standard stadium in the district, revealed that plans were underway to build a hospital for the elderly. He requested for government support in the realisation of the hospital venture.

Edson Ngiraabakunzi, who is the chief executive officer of the National Union of Disabled Persons of Uganda, reported that PWDs have saved sh6bn in their 1,300 SACCOS with 30,000 members.

Nsasiirwe, who is the chairperson of Ntungamo Municipality PWD Cooperative Savings and Credit Society, saluted President Museveni for the conducive environment in the country.

She revealed that their SACCOS was registered three months ago with a vision of promoting financial self-sustenance so that members are empowered to enjoy equal opportunities in society.

She added that their mission is to make better the members' social, economic and welfare in the municipality irrespective of age or gender.