MBALE – The youth and women in Mbale district have been advised to join SACCOs to develop a savings culture and accumulate wealth in the years ahead.
The Bungokho South County Member of Parliament in Mbale district, Robert Wandwasi said joining SACCOs makes it easy for the youth and women to benefit from government programmes such as the Parish Development Model [PDM], and Emyooga among others.
Speaking yesterday during the commissioning of Namawanga Police Station in Mbale district, the MP emphasised that joining SACCOs would help the youth and women to get cheap loans and invest wisely.
On the other hand, The Elgon regional police spokesperson, Rogers Taitika said money saved in financial institutions could easily be spent since it is easy to access it unlike money deposited in SACCO accounts.
“You cannot save money in a financial institution and plan for it well. I am encouraging persons living with disabilities, women, and the youth to join SACCOs,” Taitika said.
He said joining would SACCOs would also reduce crime. “I am calling upon the youth even if they are jobless to join SACCOs and start saving whatever little money they earn,” he said.
Taitika said SACCOs were transforming the lives of many across the world and improving their livelihoods.
“SACCOs have bridged the challenge of accessing capital by putting the little one earns in a Sacco,” he said shortly after commissioning the police station.
“I urge youth who at times might feel like they don’t have enough to save to believe in the power of saving and investment, despite their little earning,” he added.
He, however, cautioned the youth against spending borrowed money on luxuries. “It is sad that some youths borrow money to buy luxurious items. They should put the money in income-generating projects,” he said.
https://thecooperator.news/over-160-pdm-saccos-in-namisindwa-district-to-receive-funds/
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