FORT PORTAL -Emyooga SACCO leaders from Rwenzori Sub-region have been advised to prepare and apply for permanent registration before their probation certificates expire.
Joseph Lutalo the assistant registrar of cooperatives in the Ministry of Trade, Industry and Cooperatives [MTIC] said since most of the Emyooga SACCO probation certificates are soon expiring, they need to start the process of acquiring permanent registration.
Lutalo was speaking on Tuesday during a training of Emyooga SACCO leaders on the process of acquiring permanent registration and license.
“You were given a probation certificate which expires after two years and now you are ready to apply for a permanent registration. However, you need to be very organised as a SACCO because if you don’t fulfill the requirements, you will not get it,” Lutalo said.
He encouraged SACCO leaders to ensure before they think of applying for permanent registration, they have organized an Annual General Meeting [AGM] and have the latest audited reports presented in that AGM.
He said among the requirements for permanent registration, they need to have members schedule, file annual returns, minutes from previous AGM, and a recommendation from the commercial officer.
“A commercial officer can recommend either an extension of probation, permanent registration, or deregistration. You, therefore, need to be smart,” he said.
He encouraged members to increase their share capital and embrace a saving culture to enable them grow their SACCOs.
The Kabarole district principal commercial officer, Christine Kengozi appealed to all Emyooga SACCO leaders to work with the commercial officers for the sustainability of the programme.
The Kabarole Zonal area manager Microfinance Support Center [MSC], Emmanuel Mbogha said most of the Emyooga SACCOs are performing very well and they deserve permanent registration.
The Kabarole Zonal Area consists of 12 districts which include Kabarole, Kasese, Bunyangabu, Kyenjojo, Kyegegwa, Kitagwenda, Kamwenge, Ntoroko, Bundibugyo, Fort Portal city, Kassanda, and Mubende.
He said in Kabarole Zonal Area, MSC initially disbursed Shs 15 billion as of December last year, the total disbursement was Shs 21bln.
He said the increase was brought about by the additional seed capital to some SACCOs that were doing well.
“In Kabarole zonal area, we have 506 SACCOs. Some are doing extremely very well and others are doing poorly. I call upon those that are not doing well to improve and own their SACCOs “he said.
He appealed to SACCO leaders to apply for the additional seed capital because slots are still there for last year.
Mbogha said only those SACCOs which are doing very well are likely to get permanent registration if they follow the right procedure and fulfill all the requirements.
The deputy resident district commissioner Kabarole, Paul Bwire Ogalo warned those who defaulted Emyooga money that action will soon be taken if they don’t refund the money.
Ogalo commended veterans and market vendors Emyooga SACCOs for doing well and implored them to keep the candle burning.
He however wondered why the youth SACCOs are doing poorly and yet they keep saying that they are the leaders of tomorrow.
Emyooga programme is a presidential initiative on wealth and job creation that was launched in August 2019 as part of the broad government strategy targeting to transform 68 percent of homesteads from subsistence to market-oriented production with the overall objective of promoting job creation and improving household incomes.
https://thecooperator.news/fort-portal-city-emyooga-saccos-to-receive-more-seed-capital/
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