VP laudes religious institution on development initiatives

By Benjamin Jumbe

The vice President Jessica Alupo has thanked religious institutions for working towards the holistic development of the country through setting up institutions like SACCOs.

Alupo was speaking at a prayer breakfast organized by the Millenium SACCO 2012 which she lauded for its growth and vision, and for bringing people in the rural areas into the money economy.

The Vice President described as “timely and relevant” the work and efforts of the SACCO as complementary to the Parish development Model arguing that these will be sustainable and of great benefit to the people.

Meanwhile, Bishop Sheldon Mwesigwa of Ankole North, who started the SACCO requested for increased protection of local banks saying if Uganda is to be truly independent, local banks must be promoted, and not leave the lucrative business to foreign banks.

The SACCO with 16,659 members, has savings of over UGX 6.3 billion, a loan portfolio of over UGX11 bn, and a share capital of over UGX 4 billion.

Written by Noelyn Nassuuna