President Yoweri Museveni is slated to launch Busia district elderly person’s savings and credit cooperative (SACCO) limited on Monday, in Busia town.
The Sacco located along Majanji road in Busia town is among the older person’s cooperatives in the eastern region being promoted by the national resistance movement (NRM) elders league.
The Sacco membership is open to all older persons regardless of political affiliation according to Zachariah Wanyama the chairperson Busia elderly person’s Sacco limited.
Wanyama said the organization has sixty founder members and a total of 6400 institutional members from all the sub-counties, two town councils, and divisions in the district have registered.
” We have some money from the membership registration but it’s insufficient to enable us to start giving loans,” he said.
The president will launch the SACCO before addressing three campaign rallies for Boniface Paul Oguttu the NRM flag bearer in the Busia district by-election.
Wanyama appealed to members of the public to come and join the SACCO saying registration is still open adding the cooperative is aimed at helping people fight poverty.
The Sacco, he said, has been registered by the ministry of trade and cooperatives.
He advised elderly persons to embrace the Sacco, engage in economic activities to fight poverty and stop relying on their children for support.