Cooperatives & Communities

Over 160 PDM SACCOs in Namisindwa district to receive funds

NAMISINDWA – Namisindwa district has started the disbursement of the Shs 5.2 billion to 163 SACCOs registered under the Parish Development Model [PDM].

The Namisindwa resident district commissioner, who is the chief monitor of government programmes, Imran Muluga confirmed the development in a brief interview on Tuesday, saying the Shs 5,2bln is to be disbursed to PDM SACCOs that have been approved by the district for funding.

According to him, the district received Shs 5,216,000,000 for the PDM for this quarter.

According to government, the PDM, to be funded for five years, beginning with the financial year 2022/2023, aims to move 3.5 million households still in subsistence economy to the money economy.

“The Namisindwa district security team delivered the PDM funds to Buwabwala Sub-county and Bukhaweka Town Council today [Tuesday] as part of the ongoing government programme to provide access to entrepreneurial funds to the people to uplift them out of poverty,” Muluga said.

Muluga explained that the beneficiaries are drawn from the two counties of Bubulo East and Namisindwa County and each SACCO is received Shs 32 million.

He said they started with two Saccos today.

“Our team worked closely with the Kenya Commercial Bank [KCB], Centenary Bank and DFCU Bank. We sent a clear message to our beneficiaries to ensure that they honour the periodic cash repayments as required by the guidelines of the PDM,” he said.

Muluga warned the beneficiaries against misuse of the funds, threatening to arrest anyone found misusing the funds.

He told the beneficiaries that the PDM cash is not a handout from the government, but its revolving fund to be used in the fight against poverty.

“We have started disbursement of PDM funds to the SACCOs today.

Muluga said providing access to finance to promote rural production and increase household incomes is one of the key pillars of the PDM.

He said the leaders underscored the importance of following the guidelines as outlined in the seven pillars of the PDM. Each of the 10,594 parishes in Uganda is expected to receive Shs 100 million every for enterprise groups engaged in commercial production.

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