Eight Emyooga Savings and Credit Cooperative Organizations (Saccos) in Rukungiri District have been declared dormant, according to Powa Emmanuel, the Zonal Manager for the Microfinance Support Center (MSC) in the Kigezi Sub-region.
Rukungiri District, which comprises three constituencies, Rujumbura, Rubabo, and Rukungiri Municipality, has a total of 54 operating Emyooga Saccos. However, during a general meeting held at the Rukungiri District headquarters to address challenges facing these Saccos, Powa revealed that several groups, especially in the Rubabo and Rujumbura areas, are underperforming.
The meeting aimed to find strategies to revitalize the Saccos, enhance savings culture, and minimize loan defaults. Among the dormant Saccos mentioned were Rubabo Youth, Rujumbura Youth, Rujumbura Tax Operators, Rujumbura Produce Dealers, Rujumbura Tailors, Rujumbura Performing Artists, Rujumbura Veterans, and Rubabo Journalists.
Powa attributed the dormancy to a lack of effective leadership and the failure of Sacco leaders to fulfill their responsibilities. He called on the leaders to remobilize members and restore activity within their groups, noting that Saccos continue to receive seed capital annually.
CUE IN POWA……ON DORMANT SACCOS…….RR/ENG//
Rukungiri District Commercial Officer, Keithright Ainebyoona, also weighed in on the issue, citing irregular meetings, poor record-keeping, lack of accountability, and weak member cooperation as key factors hindering Sacco performance. He urged Sacco members to hold regular meetings, maintain accurate records, and foster trust and collaboration to improve results.
CUE IN AINEBYOONA……ON CHALLENGES……RR//ENG//
