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Uganda: Kiteezi SACCO Targets Bodabodas
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New Vision (Kampala)
26 March 2008
Posted to the web 27 March 2008
Samuel Balagadde
Kampala
KITEEZI Savings and Credit Cooperative Society (SACCO) in Nangabo sub-county in Wakiso district has a launched campaign to offer bodaboda cyclists with motorcycles on hire purchase.
Rosemary Senninde, the Wakiso district Woman Member of Parliament, encouraged the beneficiaries to fulfill their financial obligations for the sustainability of their SACCO.
"Banks, micro-finance institutions and other financial service providers are ready to support SACCOs but members' ability to fulfill their obligations is still a problem," said Senninde.
The legislator was speaking during the launch of the programme at Kiteezi trading centre recently.
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She said the negative perception people have about SACCOs should not deter them from continuing with those that are genuine in a bid to foster development.
"Form your own SACCOs with the management you are well conversant with. Start saving before the Government's Prosperity For All programme kicks-off. This programme intends to boost businesses that already exist," she said.
Cyrus Muwonge, the SACCO chairman, said they were only working with the locals they were sure can pay back the loans.
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