High interest rates imposed by SACCOs discouraging more members from joining, says minister.

By Gerald Businge on October 4, 2016 Among those to benefit from the program first is the Butabika hospital staff SACCO who are about to receive about 100 million shillings., give advice to members on saving and encourage others to join, Haruna Kyeyune Kasolo, ministry through the micro finance support center has worked out a program whereby SACCOS will be given close to 2 billion shillings every month at low interest rates, operations of the SACCOS, Saccos will be able to access agricultural loans at an interest rate of 9% annually and commercial loans at an interest of 13% annually, State minister for micro finance Latest Uganda News

State minister for Micro Finance, Haruna Kyeyune Kasolo, says that the biggest challenge faced by savings and credit societies across the country is the high interest rates imposed on members by managers and board members in the end discouraging many people from joining the savings and credit societies. The minister is currently on a country […]