“As we live in the space of the new normal with new protocols, SACCO and MFSI members’ demands are rapidly changing,” noted Laura Chite, CEO CIO East Africa adding, “To live up to this pace, we (CIO East Africa) have organized the 2021 Saccotech Forum to farmiliarise ourselves with the strategies for propelling our SACCOs and MFIs to meet the unique challenges of the new era.”
Click here to join.
Advertisement
With the growth trajectory gained by deposit-taking Savings and Credit Cooperatives (SACCOs) and Micro Finance Institutions (MFSIs) continually reflecting appealing financial growth parameters, it is reported that total asset growth increased to Ksh 542.27 billion in 2020, translating to a 12.4 per cent growth from the previous year.
Daily Monitor
Tuesday February 02 2021
The opportunities that come with a formalised investment club outweigh the challenges that come with operating a business with no legal status. PHOTO | file
Summary
Investment clubs in Uganda are largely informal, without legal personality and only bound together by the trust the respective members have in each other
Advertisement
No it is common nowadays for individuals to come together and pool resources for business through investment clubs.
These clubs are gaining traction as alternative sources of finances for small and medium enterprises in a country where the uptake of banking services that can unlock access to credit is very low.
Daily Monitor
Tuesday February 02 2021
Summary
Policymakers in the cooperatives sector should use partnerships with relevant institutions in the market to streamline services.
Advertisement
One in four adult Ugandans is a member of a cooperative, according to International Cooperative Alliance.
This is not without cause. Cooperatives play a critical role in mobilising savings, increasing credit access and facilitating activities along production and value chains.
Onen in Gulu might, on his own, struggle to access a tractor to plough his fields but as a part of a cooperative, he can access one at much better terms.
For this reason, cooperatives have grown from 13,179 in 2012 to about 23,485 in 2020, according to International Cooperative Alliance