KRC Uganda acquires over Shs 570mln loan to boost dairy sector in Tooro Sub-region
KABAROLE, February 20, 2024 – Kabarole Research and Resource Centre [KRC] has acquired a loan worth Shs 572 million from Microfinance Support Centre [MSc] to boost the dairy sector in Tooro Sub-region.
According to the organisation’s officials, the money will be used to purchase 60 in calf heifers that will be given on credit to selected farmers in the region.
The KRC Vice Chairperson Board of Directors, Tom Rubaale said the pilot project named ‘Cash a Cow’ will start with 20 identified farmers.
“In the arrangement, the farmers will be expected to make monthly payments of Shs 235,000 for 48 months. This project intends to increase milk production in the region, increase household incomes and as well as promote local economic growth,” Rubaale said.
The project was launched last week at KRC Uganda offices in Fort Portal City.
Rubaale added that KRC being a research-led organisation envisioned such a project that would also help to end malnutrition in the region and improve the livelihoods in the local community.
“The project model concept was informed by research which KRC Uganda commissioned considering the aspect of nutrition and improved income if farmers have quality cows,” he said.
He further revealed that the project will also contribute to the mitigation of greenhouse gasses and, promotion of biogas production.
The KRC Chairperson Investment Committee Msgr. Isaiah Mayombo called for proper accountability in the management of the money to ensure that the project is impactful.
“We need to ensure that there is proper accountability of this money so that we have a consolidated relationship with MSc. The project further puts the organisation directly in touch with the community,” he said.
Amon Tumusiime, a Relationship Officer and Focal Person for the Local Economic Growth Support [LEGS] project at MSC is optimistic that the project will be a success stressing that most farmers have always been left out of the money economy because of a lack of collateral needed for loans.
He said the project is timely because the region has had a deficit in terms of milk production and milk yet has both nutritional and financial implications.
Richard Nyakaana, one of the dairy farmers commended KRC for investing in such a project, promising that it will be a success once managed well.
“Having a cow on your farm is one of the projects you can earn from daily once looked after properly because even with one cow as capital you can educate your children up to university level. Let’s work together to ensure this project benefits all of us,” Nyakaana said.
KRC is a research, advocacy, and community development organisation that believes that empowering community requires a comprehensive understanding of their needs.
https://thecooperator.news/kikuube-dairy-farmers-decry-low-milk-prices/
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