By Georgewilliam Kakooza
Government Teachers WALIMU SACCOs Union has launched a new loan scheme dubbed The Single Deduction Code of Teachers for Loan disbursement and recovery, expected to work country wide with intentions to cut delays in the loan acquisition.
The WALIMU SACCOs Union started in the year 2015 as the single umbrella body for all teachers’ SACCOs nationwide, championing teachers with economic capital and skills to finance their personal development ventures.
The Ugandan Government has since the Union inception disbursed over 17.185 Billion of a Total of 25 Billion grant awarded to teachers by President Museveni as revolving loan fund.
After several success stories manifesting in the different teachers SACCO’s in the country, the Management and Staff has commissioned this new product to increase on accessibility of the funds.
At a function presided over by Robert Waiswa Mpakibi the Commissioner for Cooperatives in the Ministry of Trade and Industry a total of 5.540.000 Billion Uganda Shillings was released to 22 WALIMU Union member SACCOs.
In his Address he asserted that the laziness of some teachers has rendered them poor after rejecting simple income generating projects, thus making it hard to survive the lengthy lockdown on schools since the March.
Mpakibi started with an orientation seminar to all SACCO Chairpersons with tips on how to run their respective area associations and membership recruitments.
Steven Nabende the Chairperson for WALIMU Teachers SACCO’s Union said that the disbursed money is part of the 25 Billion grant of Loanable revolving fund and he hopes that the members continue to succeed in their respective fields.
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