AgricultureCooperatives & CommunitiesEast AfricaNews

Low savings alarm Kasese women’s SACCO

Leaders of NRM Ambassadors Women Group, a prominent SACCO in Kasese district, have expressed dismay at the dramatic drop in members’ savings in recent months.

The group brings together women engaged in different arts and crafts activities including making baskets, shoes, and hand bags, each of whom is expected to save each Shs 13,000 per week. However, ever since the lockdown, most members have been unable to meet their obligations.

"We are supposed to save and then credit our savings to members, but some members have not been saving consistently, which is preventing the group from progressing," said Enid Kyarisima, the group’s Chairperson during their monthly meeting early this week.

Kyarisima urged members to recommit to saving consistently if the SACCO is to achieve its goals.

“I appeal that we all become serious in our savings because we shall not achieve our core values of development otherwise. I also encourage members to come for loans in order to generate interest for the group,” she said.

She warned members who were “deliberately dodging meetings even after they were informed” and those who defaulted on funds advanced to them, saying that the law would take its course.

Peninah Mbambu, a member, says that although life has not been easy for members ever since the lockdown, it was each one’s responsibility to fulfil her duty toward the group.

“We know that economy is not okay at this time, but I pray that members get serious and save as required since it is mandatory as stated in our constitution," Mbambu said. 

The decline in savings comes at a time when all categories of skilled workers are eyeing "Emyooga", a presidential initiative aimed at funding organised groups with start up capital for economic development and transformation at household level. 

Related Articles

Leave a Reply

Back to top button