Masindi journalists elect new SACCO leadership

MASINDI, June 10, 2024 - Masindi Municipality Journalists' Emyooga SACCO has new office bearers after holding an election to replace the old executive committee.

The new leaders were elected on Friday at Masindi Municipality headquarters during a joint annual meeting for all Emyooga SACCOs in the municipality, with the elections being presided over by the Masindi Municipality Commercial Officer Robinah Nyangoma.

Ronald  Matuga a freelance journalist was elected Chairperson replacing Edward Ziwa Majaju of Radio Seven, Robert Okumu was elected Vice-chairperson,  Steven Wandera was elected Secretary, Mariam Nakasinde as the Treasurer and Alfred Bisoborwa is the new Secretary for Publicity.

Other Members  on the executive committee include Sherifa Nabule, Marion Kabagenyi, Gelazio Alinaitwe Gelazio, and Musa Kirembwe Kajumba.

On the other hand, the Supervisory Committee for the SACCO is headed by Moses Muruli as Chairperson and helped by Moses Andama and James Alinda as members.

The Loans Committee is headed by Mariam Nakasinde as Chairperson and helped by Robert  Businge and  Charity Atuhuura as members.

Matuga, the in-coming Chairperson asked for members' support, teamwork and cooperation if the SACCO is to grow to greater heights.

Emyooga is a Presidential Cluster Initiative on wealth and job creation which was introduced in 2019.

The 19 clusters selected to benefit from the program include boda-boda riders, salon owners, carpenters, and taxi operators, welders, market vendors, journalists, performing artists, mechanics among others.

Under the programme, each Emyooga SACCO initially received Shs 30 million apart from political leaders' SACCOs which got 50mln each as a revolving fund by members to boost their respective income-generating ventures, at an annual interest rate of as low as 5 percent.

The 10 best performing Emyooga SACCOs including Masindi Municipality Journalists' Emyooga SACCO also received an additional of Shs 20mln through the Microfinance Support Centre [MSC] which is mandated to manage the programme's funds.

Out of 18 SACCOs which were formed in the municipality, six SACCOs have managed to have their AGM.

During the meeting, different SACCO chairpersons noted that they were experiencing many challenges including low recovery, negative attitude, and low savings among others.

During the meeting, the SACCO members described the condition of first having 30 percent in savings of the for the total amount one wants to borrow as a big hinderance for them to benefit from the programme.

They suggested that at least members should be encouraged to buy more shares instead of saving 30 percent for one to qualify to get the loan.

Nyangoma the commercial officer challenged the SACCO leaders to encourage the members to embrace the saving culture if they're to grow their SACCOs.

"Also sensitise your members on the importance of working together and also put much emphasis on recovering the money which has been lent our," she advised.

She also clarified that the condition of 30 percent savings for one to qualify for a loan acts as security saying that it is mandatory.

"What you need know is that this money belongs to the person who has gotten the loan and can either be refunded after repaying the loan or used when getting another loan," she said.

On his part, Masindi Municipality Deputy Town Clerk, Patrick Asiimwe, asked Emyooga beneficiaries in the municipality to embrace a savings culture in order to thrive in the programme.

Asiimwe urged SACCO members to make good use of the Emyooga funds through borrowing, saving, and repaying the loans on time.

"This enables other SACCO members to also benefit from the program. Adopt a good saving culture and  also buy shares this will help you sustain the SACCOs," he said.

On his part, Emmanuel Twinomuhwezi, the Microfinance Support Centre [MSC] Zonal Manager Bunyoro region urged SACCO leaders to be innovative and recover the loans from the members, saying it is their responsibility.

He also advised SACCO leaders to always keep records of defaulters, adding that in case they refuse to repay the loans, they should always contact the MSC for action.

‘’It’s very simple. If they refuse to repay the loan, write to them, and if they are employed, also copy the letter to their bosses. If the defaulter fails to respond call us. We shall involve security to ensure the funds are recovered,’’ he said.

Twinomuhwezi also reminded the SACCO leaders to ensure their certificates are renewed, saying that it will enable them to get more seed capital of  Shs 20mln.

https://thecooperator.news/lango-journalists-urged-to-form-saccos/

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