Saccos should reduce interest rates

By Binahadad Baluku

KASESE-Cassava flour dealers at Rugendabara town Board Kitswamba Sub County Kasese district have asked government to come up with a policy to reduce interest rates charged by Savings and Credit Cooperative societies.

Jetress Mubunga, a business woman dealing in cassava flour told our reporter that SACCOs are charging them highly the act she said was pushing them out of business.

However, Mubunga said that she uses the profits from her business to educate her children.

Sadress Biira 23, dealing in the same business said that she had bought a plot of land and from her profits asking her fellow women not to relay heavily on their husbands as far as money is concerned.

Biira said that some women were regarding such business as dirty yet they are paying adding that what matters in business was planning, patience and book keeping.

According to Biira, a kilogram of un-milled cassava is bought at 1000 and 1,200 for a kilogram fine flour.

The duo, however, said that some husbands were stopping their wives from doing businesses thinking that they would not respect them after registering successes in business.

Meanwhile, Women who have not subscribed to any saving and Credit Cooperative society have been urged to do so in order to support their families economically.

Joseline Bagheni, the General Secretary for Rwenzori Men and Women United Farmers Cooperative Society based at Rugendabara town board in Kitswamba sub-county described SACCOs as affordable banks for small income earners.

She said that the reason behind Rwenzori Men and Women United Farmers Cooperative was to sensitize the community on how to fight poverty at household level.

Bagheni said that middlemen were exploiting farmers by buying their agricultural products at low farm-gate prices thus encouraging the people to join groups to enable them have a direct link with stable markets.


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