RUKUNGIRI- Ugandans have been tasked to always identify and have a purpose of the loans before borrowing so that the money they get isn’t diverted to non productive ventures that might lead to challenges during repayment.
The message was revealed yesterday by Keith Ainebyoona the district commercial officer who represented Frederick Ngobi Gume the Minister of State for cooperatives in Uganda at the 22nd Annual General Meeting (AGM) of Kebisoni Sacco in Kebisoni Town Council, Rukungiri District.
Ainebyoona expressed that once a loan is effectively utilized for its intended purpose, it will ease the borrower’s mode of repayment without hurdles. He condemned the behavior of multi borrowing that is rampant among the members and so called them to desist from it.
Cue in…………AINEBYOONA on loans
Geoffrey Kyomukama the Rukungiri District boss noted that most members lack sensitization about how to effectively utilise loans, hence some end up channeling the funds to non productive ventures.
Cue in……….KYOMUKAMA on loans
Rev. Fr. Safari Emmanuel, the Sacco’s BOD Chairman expressed concern over loan defaulters who deliberately fail to repay their loans, warning that such habits disorganize the SACCO’s ambitions. He raised concerns over dormant accounts and the low-saving culture among members.
Ainembabazi Adivin, the Kebisoni Sacco General Manager called upon members especially women to develop a saving culture to elevate the status of their families. She pointed out that Kebisoni Sacco made profits of one billion, six hundred million shillings.
She urged women to come and get loan timely. The Sacco currently boasts a membership of 9,647 and total liabilities amounting to 12.6 billion Uganda shillings.
