PDM SACCO members in Otuke invest in agri-business
OTUKE, November 22, 2023 – Members of Ating Orum Parish Development Model [PDM] SACCO have invested the money received in agri-business and expect to earn profits in the near future.
Some of the PDM SACCO members have bought cattle, goats, sheep, maize, simsim, and sorghum while others have ventured into farming, planting crops like cassava, and soybeans among others.
The PDM SACCO received a total of Shs 117 million from the government and each member got Shs 1mln to fund their chosen enterprises.
Alex Jut, the Chairperson of the PDM SACCO said the projects invested in will improve the livelihoods of the members when they start making profits, adding that members will be able to pay back the money to the Parish Revolving Fund [PRF].
“Members, including myself, have done a great thing with the money. We have acquired a long term resources like animals such as goats, cows besides. We are doing commercial farming from which we hope to raise money and pay back the loan,” Jut said.
Jacinta Acai, a member of Doga omona lonye Enterprise Group said she used the PDM money to buy a cow and maize seeds for planting, which she said have given her hope for a better life.
Acai said she will at least be in a position to pay back the money using the maize harvest while she hopes cow will deliver a calf at the end of next year.
“Life is now good, because I have my cow which the family is taking care of and my maize which I planted is doing very well in the garden. By the end of next year, my cow would have produced a calf,” she said.
While Tony Okello, a resident of Yama village, Ating parish, said that he is now stocking maize grains in bulk and will only sell it in the future when a good price is offered.
“I bought 10 sacks of maize and I will sell them when the price shoots up and add more stocks of simsim so that I make more profit and be able to pay back the loan on time,” Okello said.
Meanwhile, Charles Opio, the Otuke District Commercial Officer said more SACCO members will get the money when it is released.
“We are waiting for this financial where we hope to give money to more households. so far, the first disbursement has been good,” Opio said
On his part, John Robert Adiama Ekajo, the Otuke Resident District Commissioner urged the SACCO leadership to trade shares and make more savings to create a strong capital base, able to provide loans to members.
“I would like to call upon the chairman to keep this group alive. Do not give up. Let your group members do a lot of saving, and buy shares and use the money wisely,” Ekajo advised
Launched in February 2022, the PDM aims at moving 3.5mln households still trapped in the subsistence economy to the money economy.
https://thecooperator.news/dont-misuse-pdm-money-bishop-olwa-urges-beneficiaries/
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