Lucky P
Residents of Kyenjojo District have been encouraged to save and borrow through Savings and Credit Cooperative Organizations (SACCOs) rather than relying on money lenders who often impose harsh lending conditions.
The call was made by the Kyenjojo Resident District Commissioner, Julian Sarah Ayesiga, during the official opening of the Busaiga SACCO branch in Kyenjojo Town Council yesterday.
Ayesiga expressed concern over the growing dependence on money lenders, noting that many residents have lost valuable property after failing to repay loans acquired under unfavorable terms. She urged the public to utilize SACCOs, which offer affordable financial services while enabling members to build savings and improve their financial stability.
Financial management
Former Mwenge South Member of Parliament Aston Kajara challenged residents to develop a better understanding of money management, emphasizing that wealth creation transcends political affiliation, religion, and social background.
Kajara called on wananchi to focus on improving their livelihoods and embracing income-generating opportunities regardless of their political differences.
Speaking at the same event, the General Manager of Busaiga SACCO, Mercy Mastula, commended the people of Kyenjojo for entrusting the institution with their savings and investments.
Mastula said the new branch was established to bring financial services closer to members and expand access to affordable credit. She pledged that the SACCO would continue supporting wealth creation initiatives and empowering communities to fight poverty through savings and investment programs.
The opening of the new Busaiga SACCO branch is expected to strengthen financial inclusion in Kyenjojo District and provide residents with safer and more affordable alternatives to money lenders