Kabarole Launches Employees SACCO
Kabarole District Employees SACCO Launched by State Minister
Date: Friday, 10th December 2021
Location: Kitumba District Headquarters
Keynote Speech by Hon. Victoria Businge Rusoke
The State Minister for Local Government, Hon. Victoria Businge Rusoke, officially launched the Kabarole District Employees SACCO, an initiative formed by members to promote a culture of saving. In her address, she emphasized the importance of adhering to savings and loan recovery practices, urging members to increase their investments and membership to ensure the cooperative’s growth and development.
Hon. Rusoke contributed One Million Shillings to the SACCO and encouraged members to remain focused and visible, serving as a model for others.
Insights from Key Speakers
Madam Christine Kengonzi
Senior Commercial Officer, Kabarole
Madam Christine Kengonzi highlighted the importance of forming and joining the SACCO as a strategic move for retirement planning. She stressed the need for adherence to the principles of democracy, equity, equality, and solidarity to avoid the pitfalls that have led to the collapse of many SACCOs.
Tumuhairwe Ronald
SACCO Chairperson
“We started this SACCO to develop and promote the saving culture among the staff, provide affordable financial services, and foster unity and welfare among members,” said Tumuhairwe Ronald. He clarified that the SACCO would cater exclusively to current employees of Kabarole District and former staff now part of Fort Portal City.
Remarks by Kabarole District Chairperson
Mr. Rwabuhinga Richard
District Chairperson, Kabarole
Mr. Rwabuhinga Richard expressed concerns about the high-interest rates charged by money lenders and financial institutions, which have led to financial difficulties for many educated and elite individuals. He contrasted this with village savings and credit groups, which operate on lower interest rates, thus safeguarding their property.
“The village people are wiser and well-organized in their savings and credit practices, borrowing money at low interest rates and protecting their assets from being seized,” he noted.
Join the Kabarole District Employees SACCO Today!
Take a step towards financial security and growth by becoming a member of the Kabarole District Employees SACCO. Together, we can build a stronger, more prosperous community.
For more information, please contact the Kabarole District SACCO office.