Museveni boosts Lira University Staff SACCO with Shs 100mln
LIRA CITY, January 25, 2025 – Lira University Staff Savings and Credit Cooperative Organisation [SACCO] has recorded significant growth in membership and its loan portfolio after receiving a financial boost of Shs 100 million from President Yoweri Museveni, according to the University Vice-Chancellor, Prof. Jasper Ogwal Okeng.
Okenga said during the university’s recent graduation ceremony that Museveni donated the money to the SACCO in 2019 while officiating at its first graduation ceremony, which saw over 300 students graduate.
“I would like to thank His Excellency the President for the generous donation of 100 million shillings to the Lira University Staff SACCO. The SACCO has achieved remarkable success and will continue to grow and thrive,” said David Geoffrey Opio Okello, Chairperson of the University Council.
He added that the SACCO has initiated several income-generating activities, supporting the welfare of families, home improvements, and providing emergency assistance to members.
“What is even more exciting is that the SACCO has grown significantly, from an initial membership of 33 and 16 active loans amounting to Shs 44 million in 2021, to the current membership of 134 with a total portfolio of Shs 447 million, serving 115 members,” said Okello.
Opiokello explained that the projects supported by the SACCO range from animal rearing, poultry farming, fish farming, crop production, grain milling, and construction, among others.
Dr John Chrysestom Muyingo, the State Minister for Higher Education, represented the First Lady and Minister of Education and Sports, Janet Museveni as the university graduated over 500 students days ago.
“Honourable minister, just imagine what the Lira University Staff SACCO could achieve with additional financing,” he added.
He also appealed to the government for the expedited establishment of the Lira University Innovation Hub and urged an increase in the Shs 500 million grant allocation for research and innovation.
https://thecooperator.news/over-580-graduate-at-lira-university/
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