Government to revamp SACCOs, Cooperatives countrywide
Last Updated on: 4th March 2019, 07:50 am
By Aciro Rita Hope & Denis Otti
The Microfinance Support Center Limited is on the verge of getting back the lost glory of the existing Cooperatives and SACCOs within the country.
This was revealed during a consultative meeting held in Gulu town last month to handle the different ways of bringing up the fallen and existing SACCOs and Cooperatives.
A comprehensive report on the challenges facing different Cooperatives and SACCOs in Uganda was tabled in last month’s meet, with ideas emerging from the stakeholders, government officials, leaders of the Cooperatives and SACCOs.
James Muhwezi, the microfinance business officer said they got ideas from inductive Cooperatives in identifying challenges why the young SACCOs and Cooperatives are solidly collapsing.
“There is need to create a vibrant Cooperative to serve the needs of its members,” he noted.
He however added that criterias are being devised to curb the common existing plights challenging these financial groups.
Over 122 Cooperatives and Unions have been announced to undergo revival. Manuals are being filed, he noted.
He urged the members of SACCOs and Cooperatives to embrace the discussions held and to take key responsibility in maintaining their financial body.
Okwi Isaac Emma from Uganda Cooperative Alliance, Lira said since they deal with Cooperative, they have engaged government with the aim of creating a positive impact in the lives of the Cooperatives.
Mr. Okwi says that the crippling of the Cooperatives and SACCOs is due to poor record keeping systems.
Wokorach Simon Peter, who represented Gulu RDC asked Cooperators and SACCO members not to put political interest in the saving body.
He added: “The demise of some of the SACCOs and Cooperatives have been spearheaded by ones interest. No politics in SACCOs,” he sounded.
The third revival meeting was for the three sub-regions of Acholi, Lango and West Nile, respectively.
The reason for the consultation meet was a mandate from the government of Uganda, we have learnt.