Members of parliament on the parliamentary committee on public accounts have recommended the halting of the operation of Micro Finance Support Centre over poor management of the funds allocated to this Centre to lend to the poor people through SACCOs. This after members of parliament on the Public Accounts Committee chaired by Soroti district woman MP […]
The state minister for micro finance Haruna Kyeyune Kasolo has warned the staff under the Project for Financial Inclusion in Rural Areas ( PROFIRA) in the ministry of finance not to divert funds meant for the building the capacity of SACCOS in rural areas for their own use because the long arm of the law will catch them. The […]
Weak leadership and low capital contributions by members is one of the major challenges faced by the cooperative unions in the country. The Minister of trade, industry and cooperatives Amelia Kyambadde made the remarks while briefing journalists at the media centre on the status of cooperatives in the country. The minister however says her ministry was working with the private sector […]
President Yoweri Museveni directed that all taxes levied on Savings and Credit Cooperative Societies (SACCOS), especially on the dividends of the members, should be abolished to promote the saving culture and avoid double taxation. This was revealed by the Prime Minister Dr Ruhakana Rugunda who represented him at the celebrations to mark the 93rd International […]
Members of Parliament on the parliamentary committee on National Economy have put to task the Minister of Micro Finance, Caroline Amali Okao to explain the closing of SACCOs and the same SACCOs leaving with government funds. MPs on the committee chaired by the Member of Parliament for Ibanda North, Xavier Kyooma Akampurira, are concerned that many SACCOs […]
MPS have thrown out the ministerial statement of the minister of finance on the youth venture capital fund meant for youth entrepreneurs. This came after the minister of finance; planning and Economic Development Maria Kiawanuka Nabasirye failed to convince them on the friendly modalities on how the youth can access funds for job creation. The […]