Saturday , June 6 2020
Home / Business / Make SACCOs self-reliant – Oulanyah
Covid-19 Image

Make SACCOs self-reliant – Oulanyah


Jacob Oulanyah

The Deputy Speaker of Parliament Jacob Oulanyah has urged cooperative societies to generate their own income and rely less on donations.

While launching the Kibuku United Farmers’ SACCO on Saturday  in Kibuku, the Oulanyah said that there was a tendency of Savings and Credit Cooperative Organizatio (SACCOs) to rely on donations yet they should be able adopt business models and generate income from their savings.

“We talk about saving but how can we save without any production? A SACCO should not be a donation seeking institution; it should be a business making institution. Donations should be the smallest percentage of capital. A SACCO should be able to create its own revenue,” Oulanyah said

He added that the Kibuku United Farmers’ SACCO should build its own capital base other than relying on free money from donations that it would end up misusing.

“Free things are not always well utilised because you have not worked hard for them. It’s a common tendency for donations to be mismanaged,” he said.

The Deputy Speaker on the same day opened a Training and Production Centre called ECIL Training and Production Centre in Kibuku, where he said that the syllabus of the country should be changed to incorporate practical skills.

“There are people who want to have basic artisan skills to be able to earn a living. I am grateful for the life skills you are promoting, and we hope to see that the students are able to do something to earn money,” Oulanyah said.

Oulanyah further said that the cooperative must be a symbol of success in Kibuku. “The people who join the cooperative must be willing to work with no discrimination based on politics. The success of your cooperative should be based on the growth of wealth creation of each member,” he said.

The Chairman of the SACCO, Kedi Joseph Kazira said that the Kibuku United Farmers Cooperative was formed with 106 members, each paying a share capital of sh100,000.

He added that it intends to empower its members in social economic, self reliance and sustainable livelihood. It currently operates in Kibuku with the hope of expanding to the neighbouring districts of Pallisa and Budaka.

“Our appeal is that government provides a tractor to help with ploughing, equipment for irrigation and grants to boost our share capital,” Kazira said.

SACCO to provide employment

Jenipher Namuyangu (NRM, Kabweri County), the Minister of State for Local Government, who was behind the initiative to launch the Kibuku United Farmers’ SACCO, said that the SACCO was meant to economically empower the people of Kibuku. “The SACCO will provide employment, help people improve on their food produce and help them sell and export it,” Namuyangu said.

At the same function, Rukia Kyekamondo, (NRM, Kapchorwa Woman) urged the people of Kibuku to support the SACCO by working hard to save in it. “Make sure you spare some money from any sell of produce to save with SACCO. Your sole purpose should be to grow the capital of your SACCO because it will end up improving your lives,” she said.

Julius Maganda (NRM, Samia-Bugwe South), the Minister for East Africa Community urged the locals to support all their leaders for the sake of unity. “This SACCO is yours for your own benefit. The leaders are using this to push you to start working. Support the SACCO, which in turn will support you and your families. I hope that when it works, I can get people to come and invest in it. This will benefit you as the people,” he said.





Leave a Reply

Your email address will not be published. Required fields are marked *