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Soroti City journalists’ SACCO tipped on record keeping

SOROTI, November 23, 2023 – Executive members of Soroti West City Division Journalists Emyooga SACCO in Soroti City have been advised to keep records if they are to properly manage the SACCO.

The call was made by Rosette Cheperwas, the Emyooga Focal Person for the Microfinance Support Centre  [MSC] in Soroti City.

“What is key in a SACCO is records and therefore every you should be able to present proper records when required,” she said.

Cheperwas who was days ago appraising the journalists’ SACCO called for transparency and accountability, saying any further financial support towards the SACCO will be based on proper records.

She also advised the members to recruit other members to join the SACCO, saying new members will boost the SACCO’s savings which act as a capital base for loans that members take.

Responding to Cheperwas’ concerns, George Muron, Chairperson of the SACCO said members are coy to save, adding that some of the members who took loans are yet to pay back so that others can also borrow and fund their businesses.

Muron said it is a duty for the SACCO’s executive to put the records right and are willing to do so. “At first, we did not understand the Emyooga guidelines but your coming is a blessing and we promise to deliver the best,” he said.

George Tukei, Soroti City Commercial Officer appreciated MSC for identifying some of the best SACCOs in divisions in Soroti City. He asked MSC to train SACCOs that are lagging behind so that they can perform better.

“We pray that MSC takes the underperforming SACCOs to benchmark so that they can learn and improve,” he said.

Tukei however said that there is delay in recovery of the funds because most of the SACCOs have failed to organise annual general meetings, which he said are very important for the proper running of the SACCOs.

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