LIRA-The Microfinance Support Centre [ MSC ], has kicked off preparations to offer permanent registration certificates to the Emyooga SACCOs in Lango and Acholi sub-regions.
According to Mable Nabadda, the Lira and Gulu Zonal manager, when the programme was launched, the Ministry of Trade, Industry and Cooperative [MTIC] offered the SACCOs in the sub-region provisional certificates for 24 months which will expire in June 2023.
She said they mobilised 678 Emyooga SACCOs which were given provisional registration certificates to take 24 months.
“As lead implementers, we are coming on board to prepare them for permanent registration because we are not waiting for the time for the expiry,” she said last week while addressing Emyooga SACCO leaders during a workshop at Lira City Hall.
“We have started a process to ensure they [Emyooga SACCOs] have all the necessary requirements for acquiring permanent certificates,” she added.
She said the seven months remaining to the expiry date of the certificates is enough time for the SACCOs to prepare for full registration.
She said MTIC will do assessments to identify Emyooga SACCOs that meet the qualification for permanent registration as well as those which still need additional support.
“Not every SACCO will be registered at once but we are selecting on a case by a case basis and whatever SACCO is performing to our expectation, has already been forwarded for registration,” she added.
Otile Patrick George, the chairperson Apac Municipal Veterans SACCOs welcomed the latest development.
He said the seed capital of Shs 30 million which was advanced to them performed extremely well, adding that with the permanent registration in the offing, they will access more financial support.
He added that MSC added more Shs 20mln which made a total of Shs 50mln including their share capital of Shs 27mln.
“We have been alerted that the certificate is due to expire and we have been advised to put together all the necessary requirements for permanent registration,” he said.
https://thecooperator.news/msc-advises-emyooga-groups-to-build-culture-of-saving/
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