MBARARA – The District Commercial Officer Mbarara Mr Bwisho Adams has advised Ugandans who are looking for money for investment to always make a business plan before borrowing money.
- Bwisho was recently speaking during the 13th Annual General meeting of Rubindi Farmers Savings and Credit Cooperative Organization Sacco held at St Joseph Model Primary School in Rubindi town council Kashari north Mbarara district.
Bwisho revealed that Rubindi Farmers Savings and Credit Cooperative Organization Sacco is progressively growing with good leadership where he supported the policy of reading out openly the names of loan defaulters.
He explained that reading out names acts as a call to remind members that they must pay back the loans to inorder to support the Sacco developmental activities/projects.
Presiding on the function, Mr.Twashaba Simon the Mbarara District Secretary for Finance and Planning warned against multiple borrowing which he says is the main cause of loan defaulting in most financial institutions.
The chairperson Executive Committee Rubindi Farmers Savings and Credit Cooperative Organization Sacco Rev Fr Dr Godwin Muhangi Tindyebwa appreciated the Uganda Micro- Finance Support Center for donating shs 50 million to support its activities.
The General Manager Rubindi Farmers Savings and Credit Sacco Mr Moses Asiimwe revealed that the Sacco is growing steadily because of providing excellent financial credit services at moderate and manageable interest rate.
The Sacco has three branches including Rubindi main, Akashanda and Igorora with over 6,480 members countrywide.
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