Cooperatives & CommunitiesDevelopmentFinancialNorthernTrade

Kwania Women SACCO tipped on investment

KWANIA, JANUARY 8, 2024 - Kwania District Woman Member of Parliament, Kenny Auma has encouraged members of Bed-igen Women Savings and Credit Cooperative Society [SACCO] to take advantage of the available business opportunities to earn more profits.

Auma made the remarks last Friday during the official launch of Bedigen Women SACCO at an event held at Teduka ward in Aduku town council, Kwania district.

“You should consider bringing your capital together and set up a bigger business other than the usual ones such as making beads whose profit is small,” said Auma mentioning business projects such as maize mills and cattle farming as examples of worthwhile business opportunities.

According to Auma, government through the Private Sector Foundation and the Ministry of Gender, Labour and Social Development has earmarked a sum of Shs 800 billion under Generating Growth Opportunities and Productivity for Women Enterprises [GROW] project, aimed at supporting over one million women entrepreneurs in the country to transit from micro to medium enterprises.

“I want to encourage women to tap such available opportunities and other government programmes such as the Parish Development Model [PDM], Uganda Women Entrepreneurship Programme [UWEP] to grow their businesses and improve livelihoods," she said in an interview with this reporter on Friday.

Cash donation to the SACCO

The Legislature later handed over to the SACCO leaders a cash donation of Shs 1 million and presented another Shs 1mln donated to the SACCO by Kwania North County Member of Parliament, Bob Okae.

Denis Aweri, the Chairman National Chambers of Commerce in charge Kwania district hailed the women’s group for embracing the saving culture.

"I am so happy that people are saving money and I encourage you to continue saving. Let’s open an account in the bank and stop keeping money in the house. I am equally happy that you are dishing out loans. Let’s have discipline among the SACCO executives for development," he said.

In her remarks, the SACCO Chairperson, Agnes Ocen Ogobi said they were failing to start better businesses because they did not know the advantages of joint business ventures.

“We will look into the possibility of running a business to maximise our income,” she said.

Bed-igen Women’s Savings Group located in Bung Teduka in Aduku town council, Kwania district was established in 2018 with 20 members. The group which was formed with the aimed of empowering young women entrepreneurs has now grown to 142 members with a current loan portfolio of Shs 150mln.

https://thecooperator.news/kwania-parish-chiefs-on-the-spot-over-negligence-and-sabotage-of-pdm/

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