NEBBI, December 7, 2024 – Catholic priests in Nebbi district have formed the Nebbi Diocesan Development Association SACCO (NEDA) to enhance their livelihoods.
The priests stated that the SACCO would help them increase their savings and provide affordable credit, addressing some of the financial challenges they face.
Rev. Fr. Albert Oromchan, who led the formation of the SACCO, explained that it would serve all Catholic priests within the Nebbi Catholic Diocese. “It was a prudent decision for us as priests to establish our own SACCO because we cannot entirely depend on the faithful for our survival,” Oromchan said.
Out of the 65 priests serving in the Nebbi Catholic Diocese, 30 have fully registered with the SACCO and have made their membership and subscription payments. Oromchan shared that their goal is to raise seed capital of Shs 200 million, though they have so far collected nearly Shs 10 million.
“We believe that once the SACCO begins operations, managing personal expenses such as servicing our private vehicles, sponsoring relatives’ education, and covering medical bills will no longer be a challenge, as we will have our own financial foundation,” Oromchan added.
Sam Okaba, the Head of Laity for the Nebbi Catholic Diocese, welcomed the formation of the SACCO, noting that it comes at a time when the priests have no income-generating projects of their own.
Okaba further emphasised that if the SACCO is well-managed, it could offer a variety of innovative financial products tailored to meet the priests’ comprehensive needs. He also mentioned that President Museveni had promised to contribute Shs 200 million seed capital to the SACCO.
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