Prioritise loan repayment – Kabale Woman MP urges SACCO members
By Byamukama Libino
Kabale – Catherine Atwakiire Ndamira; the Kabale Woman Member of Parliament has asked members of savings and credit cooperative organizations to always prioritize repaying loans which they borrow from their respective SACCOs, if they are to grow in leaps and bounds.
MP Atwakiire was on Saturday speaking as chief guest during the annual general meeting of Muyebe Twimukye SACCO, held at St Peter’s Church of Uganda Muyebe Archdeaconry.
The legislator further said that several members of SACCOs acquire loans to do some projects, but end up not bothering to repay back which affects progress of other members.
Atwakiire said that people should always identify enterprises that can generate income quickly especially growing Irish potatoes and vegetables so as to repay back the loans.
She further commended members of Muyebe Twimukye SACCO for starting up the savings group, which is part of government’s effort to fight poverty.
Atwakiire also asked leaders of the SACCOs to identify unique guidelines that can attract more members. She contributed one million shillings to the SACCO.
The chairperson of Muyebe Twimukye SACCO, Apophia Atusasiire, said that they are facing a challenge of loan defaulters, adding that out of the 691 members, 100 of them have not repaid their loans, without mentioning how much they owe the SACCO, adding that this is hinders effective progress of the SACCO.