A women’s SAACO opens in Kabale

Prime Minister Dr.Ruhakana Rugunda has opened a Woman Savings and Credit Cooperative ( SACCO) in Kabale district.

The Prime Minister, accompanied by his wife Jocelyn Rugunda, the Patron of the SACCO cut the ribbon to open the SACCO’s office in Kabale town.

Speaking at the launch last Sunday at Little Ritz Gardens in Kabale Municipality, Dr.Rugunda asked the SACCO members to embrace the culture of saving; if they are to end poverty in their homes and communities. The Prime Minister also urged women in Uganda to make the use of the SACCOs in their respective areas as an engine  to promote their small scale enterprise.

‘’ Gone are the days when house wives used to sit at home and wait for  their husbands’ salaries, something that cannot work in the fast changing  world”, said Dr.Rugunda.

His Excellency consular of Vietnam to Uganda, Founder and Board chairman of St Augustine International University, King Ceasor Mulenga, contributed two hundred million shillings to the SACCO members, as a way of starting them off.

The women SACCO in Kabale municipality, was supported by King Ceasor Mulenga, after realizing that; as much as women have the capacity to supplement to the economic welfare of families, they are handicapped by lack of capital in terms of finance.

 King Ceasor Mulenga called upon SACCO members to make use the money wisely and profitable, so that more members can also benefit with an aim of fighting poverty in homes and communities.The Chairperson of the SACCO Mrs. Feddy Garyahandere, commended H.E King Caesor Mulenga for empowering women in Uganda and added the SACCO will help women with loans of low interest rate. Garyahandere explained that since most women lack property, which they can use as   collateral, members will use other means of collateral to secure loans. By ABCafrica reporter

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