{"id":41178,"date":"2022-12-05T11:02:41","date_gmt":"2022-12-05T11:02:41","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages"},"modified":"2022-12-05T11:02:41","modified_gmt":"2022-12-05T11:02:41","slug":"minister-bahati-roots-for-saccos-in-villages","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages","title":{"rendered":"Minister Bahati roots for Saccos in villages"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>The State minister for Trade, Industry and Cooperatives, Mr David Bahati, is pushing for the formation of savings and credit cooperative society organisations (Saccos) at the village level to improve livelihoods.<\/p>\n

\u201cThe formation of Saccos at every village in Uganda will promote a saving culture that will facilitate the operators of small-scale businesses to access simple loans to boost their trade since most of them have the required collateral securities required by commercial banks,\u2019\u2019 Mr Bahati said.<\/p>\n

He made the remarks during the launch of Mwendo Sacco in Mwendo Trading Centre, Kitumba Sub-county in Kabale District at the weekend.<\/p>\n

Mr Bahati, who also doubles as the Member of Parliament for Ndorwa West, said the interest rate in commercial banks is high because there are fewer savings.<\/p>\n

\u201cThe government is encouraging the formation of Saccos in all rural areas to overcome the challenges related to lack of capital to start or boost small-scale businesses for economic growth,\u201d he said.<\/p>\n

The minister promised financial and technical support to every village in his constituency that starts a Sacco.<\/p>\n

The chairperson of Mwendo Sacco, Mr Moses Twesigye, said they have about 230 members who have saved about Shs19 million in addition to Shs10 million, which Mr Bahati invested in the same Sacco as his contribution.<\/p>\n

\u201cWe are grateful to Mr Bahati for the support given to our Sacco because we are able to offer simple loans to food vendors in Kabale Town and farmers that want to do modernised agriculture. We thank Mr Bahati for donating to us a computer and a printer to ease our banking services. We are waiting for his pledge to establish a room where a metallic safe box will be installed to keep member\u2019s savings records,\u201d Mr Twesigye said.<\/p>\n

The district planner, Mr Boaz Kakuru, welcomed the idea of establishing Saccos at the village level, arguing that they will deliver services closer to the people.<\/p>\n

\u201cWe have 728 villages in Kabale and if a Sacco is established at every village, about 2,184 jobs will be created in case each Sacco is to have an accountant, a cashier and an auditor,\u201d Mr Kakuru said.<\/p>\n

Mr Bahaiti also revealed that the government plans to tarmac the tourism and community roads in Kigezi.<\/p>\n

\u201cThe government has secured about $150 million (about Shs561.6b) for the tarmacking Katuna-Rubaya-Muko community road to boost commercial agriculture production by facilitating farmers to access markets for their produce,\u2019\u2019 he said.<\/p>\n

Mr Bahati said the government has also secured $70 million (about Shs262b) for the tarmacking of Kabale-Lake Bunyonyi road to promote tourism.<\/p>\n

\u201cThe tarmacking of the road will also come with the establishment of two ferries that will ease means of transport on the lake, besides promoting the safety of traders who have been using dugout canoes to transport their merchandise,\u201d he added.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. The State minister for Trade, Industry and Cooperatives, Mr David Bahati, is pushing for the formation of savings and credit cooperative society organisations (Saccos) at the village level to improve livelihoods. \u201cThe formation of Saccos at every village in Uganda will promote a saving culture that will facilitate the operators of small-scale […]<\/p>\n","protected":false},"author":84,"featured_media":41177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[233,240,1490,234],"class_list":["post-41178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-uganda","tag-minister-bahati","tag-uganda"],"yoast_head":"\nMinister Bahati roots for Saccos in villages - Uganda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minister Bahati roots for Saccos in villages\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Uganda. The State minister for Trade, Industry and Cooperatives, Mr David Bahati, is pushing for the formation of savings and credit cooperative society organisations (Saccos) at the village level to improve livelihoods. \u201cThe formation of Saccos at every village in Uganda will promote a saving culture that will facilitate the operators of small-scale […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-05T11:02:41+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Minister Bahati roots for Saccos in villages\",\"datePublished\":\"2022-12-05T11:02:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages\"},\"wordCount\":482,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/12\/postQueueImg_1670225575.32.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"Minister Bahati\",\"uganda\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/minister-bahati-roots-for-saccos-in-villages\",\"name\":\"Minister Bahati roots for Saccos in villages - 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