KANUNGU– Kihihi Town Council Mayor Sostine Atwine Buregyeya has appealed to the shareholders of Kihihi Cooperative Savings and Credit Society Ltd to work for continuity of their Sacco in order to realise its importance.
Atwine Buregyeya made the remarks on Friday while speaking at the 5th Annual General meeting of revived Kihihi Sacco that took place at the Town Council Hall in Kanungu District.
The Town Council Mayor who was the Chief Guest at the function asked the members to forget on what befell the Sacco when its operations declined and focus on new measures that are aimed at maintaining it to acceptable standards.
Sostine Buregyeya promised to lobby for support for Kihihi Cooperative Savings and Credit Society since it’s one of the Saccos that the government will be used to channel the funds meant for Parish Development Model and other projects.
He therefore called on the members to develop a sense of belonging by purchasing more shares and encouraging more members to join them so that the Sacco becomes a trusted institution to partner with the government.
Earlier, the Kihihi Cooperative Savings and Credit Society Chairperson Loy Sengoma said that ever since the Sacco was revived 5 years ago, it has a total membership of 320 active members with a total loan portfolio of Ugx 57 million, savings worth Ugx 6.6 million and share capital of Ugx 6.4 million.
She however said that this was achieved during the COVID-19 pandemic period and hope that since its over, they will develop.
Kanungu District Agricultural Officer Politique Emmanuel who represented the District Commercial Officer hailed the Sacco management and staff for working hard to revive the Sacco which had declined and asked the new members to ensure that they develop a savings culture to maintain the Sacco to acceptable standards.
Politique said that the Sacco belongs to shareholders and it’s their duty to ensure that its run according to set regulations by the Cooperatives Act.