Lira District Employees’ SACCO Set for Its Second AGM in 5 Years

By Achai Ferdinand

Lira

Lira District Employees’ Savings and Credit Cooperative is set to hold its second Annual General Meeting (AGM) at the end of October 2018. This will be the Savings and Credit Cooperative (SACCO’s) second AGM since inception in 2012.

The Lira District Employees’ SACCO was founded with the aim of promoting savings and easy access to credit for the civil servants and the employees of Lira district local government.

However, according to members, the SACCO has not been viable. Some members have been dormant for the six years of its establishment.

Mrs. Akide Irene, the Principal Human Resource Officer of Lira district and also Secretary of the SACCO, says the institution is not dead but some gaps definitely need to be fixed.

Mrs. Akide attributed the SACCOs challenges to; a poor saving culture, transfers, interdiction and retirement of some members, and insufficient cooperative education, among other reasons.

She admitted that the SACCO had failed to convene an AGM for the last five years due to the above challenges, but gave reassurance that efforts are in place to address the gaps.

“It is already in plan for us to have our AGM before the end of October 2018, where all members are called to attend including those who are able to buy shares. Members will also suggest effective ways to revamp operations, for instance, election of competent leaders,” Mrs. Akide said.

Lira District Chairperson Mr. Alex Oremo Alot confirmed that he considers the SACCO not to be active. He tasked executives of cooperatives to be transparent in executing their duties while following the principles of cooperatives and respecting the constitution.

Mr. Oremo encouraged district staff to embrace cooperatives, as a key to development.

End.