GULU– The national coordinator of Operation Wealth Creation [OWC], Gen. Salim Saleh, also known as Caleb Akandwanaho, has differed from the proposed policy of creating new SACCOs for the implementation of the Parish Development Model [PDM].
Saleh noted that the formation of new Saccos for the implementation of the project would weaken the already existing SACCO structures.
Saleh was on Friday last week speaking in Gulu as Chief Guest during the launch of Stanbic Bank Uganda finance and capacity building programme for SACCOs where Shs50 billion fund was unveiled for the SACCOs in the northern region to take advantage of.
Saleh however explained that most of the government interventions on poverty eradication have not been successful, as beneficiaries have failed to learn from the experiences or from the private sector mode of doing business.
Saleh was backed up by many of the leaders in the country and the different players in the private sector.
The Chief Executive Officer of The Uhuru Institute for Social Development [TUI], Leonard Okello noted that with the available SACCOS, the implementation of the PDM could kick off without having to form new SACCOs.
“Formation of new Saccos would mean weakening the already available SACCOs and cooperatives. Members only need training for the implementation of the project,” Okello explained.
The Chief Executive Officer West Nile Private Sector Foundation, Jenaro Onegi has also urged the government to incorporate the existing Saccos to kick-start the grassroots implementation of the project.
Ventorino Otto, the Monitoring and Evaluation Specialist at Acholi Private Sector Development Company noted that they are already engaging the local governments to take advantage of the existing SACCOS.
The PDM is one of the government interventions for poverty alleviation with direct support to groups, Saccos, and cooperative societies at grassroots levels.
The government wants to pass money through 10, 594 PDM SACCOs, which will in turn lend to the organised groups. Each parish is earmarked to receive Shs 100mln per year for five financial years.
According to the Finance Ministry, government has provided over One Trillion shillings in the next financial year 2022/23 as it aims to push 3.5 million people out of the subsistence economy to the commercial economy.
https://thecooperator.news/stanbic-bank-launches-shs-50-billion-funds-for-saccos-in-northern-uganda/
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