The Commissioner for the Warehouse Receipt System in the Ministry of Tourism, Trade and Industry, Deborah Kyarasiime, has urged farmers in Kabale District to adopt the Warehouse Receipt System as a reliable solution for improving access to markets and financing.
Kyarasiime made the call on Saturday while serving as the Chief Guest, during the 40th Annual General Meeting of Lyamujungu SACCO at the SACCO headquarters in Nyakasharara Village, Kaharo Sub-county in Ndorwa East Constituency.
The Warehouse Receipt System allows farmers to store their produce in certified facilities and receive receipts that can be used as collateral for loans. According to the World Bank, such systems are widely used in industrialized countries as a key component of efficient agricultural marketing and financial systems.
Kyarasiime urged farmers to embrace the system, which was recently passed by Parliament, noting that it is designed to make the agricultural sector more attractive to banks and microfinance institutions.
She explained that the initiative will also help reduce the cost of public support for agricultural marketing and improve farmers’ ability to manage price fluctuations.
Kyarasiime emphasized that the success of the system depends on strict adherence to quality control measures at every stage of production, including proper plant care, harvesting, and post-harvest handling.
She noted that the initiative will enable farmers to store their produce safely, avoid selling at low prices during harvest seasons, and instead wait for favorable market conditions to maximize profits.
CUE IN KYARASIIME…..ON THE WAREHOUSE…..RR//
Meanwhile, the Kabale District Speaker, Flavia Kanagizi, cautioned residents against taking on loans they cannot repay, warning that many people have lost property due to loan defaults.
CUE IN KANAGIZI……ON LOANS…..RR//
At the same event, the General Manager of Lyamujungu SACCO Limited, Byamukama Dicky, revealed plans to install Automated Teller Machines (ATMs) linked to commercial banks across the country. He said the move is aimed at improving access to financial services for SACCO members and enhancing convenience in transactions.
CUE IN BYAMUKAMA…..ON ATM….RR//
