The Second National Microfinance and Savings Groups Conference 2024 underway Kampala
According to officials, participants at the conference will provide solutions to enhance the effectiveness and inclusivity of Uganda’s microfinance sector.
KAMPALA, July 17, 2024: The Finance ministry together with stakeholders in the microfinance sector is holding the Second National Microfinance and Savings Groups Conference 2024 from 17th to 18th of July, 2024 at Hotel Africana in Kampala.
The conference which has attracted hundreds of participants is being held under the theme “Leveraging Collaborations, Partnerships, and Promoting a Savings Culture to Foster Socio-economic Transformation”.
According to officials, participants at the conference will provide solutions to enhance the effectiveness and inclusivity of Uganda’s microfinance sector. It brings together government officials, policymakers, banks, microfinance institutions, international organisations, community leaders, and Savings and Credit Cooperative Organisations [SACCO] representatives.
Some of the high-profile officials attending the conference include Richard Todwong, the Secretary General of the National Resistance Movement, and the Finance Ministry Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi among others.
Addressing participants at the conference, Ggoobi highlighted the importance of financial inclusion in Uganda, particularly in rural areas. He urged the experts in the microfinance sector to penetrate the rural areas and link financial resources to Ugandans residing there.
The State Minister for Microfinance, Haruna Kasolo, who officially opened the conference advocated for empowering informal groups and reducing reliance on large financial institutions to promote economic growth in Uganda.
This conference, he said, marks a crucial step in promoting collaboration and knowledge exchange within the microfinance sector, paving the way for a more inclusive and digitally empowered financial ecosystem. I encourage everyone to embrace a culture of savings and investments.”
“I am privileged to officially open the Second National Microfinance and Savings Groups Conference 2024 under the theme for this year, “Leveraging Collaborations, Partnerships, and Promoting a Savings Culture to Foster Socio-Economic Transformation”.
The minister said the theme underscores our dedication to fostering economic growth and development through strategic alliances. He said government last year introduced the Second National Financial Inclusion Strategy [2023-2028] to combat poverty and spur economic growth through accessible financial services.
So far, he said Shs 308 billion has been allocated to the Agricultural Credit Facility [ACF]. “I am determined to ensure that all Ugandans, particularly those in agriculture, have access to these funds,” he said.
Kasolo said government remains committed to advancing financial inclusion across the nation. Partnering with stakeholders is essential to addressing financial exclusion, in alignment with our national financial inclusion strategy and NDP3.
“Government initiatives like Emyooga Programme and the Parish Development Model [PDM] have invested over Shs 4 trillion in microfinance, boosting financial inclusion and prosperity. Microfinance is a vital component of Uganda’s development as we move towards the next economic level,” he said.
Sponsors of the conference are the Finance Ministry, Bank of Uganda, Care Uganda, and Association of Microfinance Institutions in Uganda [AMFIU] among others.
https://thecooperator.news/microfinance-and-savings-groups-conference-kicks-off-in-kampala/
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