Rubirizi, Uganda – Principal Commercial Officer Mr. Musimenta Benon has issued a stern warning to Rubirizi residents regarding the misuse of loans and the consequences of defaulting. He emphasized the importance of teamwork and cultivating a savings culture as vital strategies for poverty eradication and fostering sustainable development within families and the community.
Mr. Musimenta made these remarks during the Annual General Meeting of the Rubirizi Tax Owners, Drivers, Conductors, and Lorry Cooperative Society Limited (RUTALOD), held at Mayors Gardens in Nyakasharu. Addressing the members, he stressed the need to uphold SACCO (Savings and Credit Cooperative Organization) values of unity for economic empowerment and community development.
He cautioned RUTALOD members against the detrimental habit of multiple borrowing and the misuse of loans obtained from SACCOs. Mr. Musimenta highlighted that community development should not solely rest on the government’s shoulders, but citizens must actively contribute.
The chief guest, Mr. John Magezi, the Mayor of Rubirizi Town Council, commended RUTALOD for its significant role in assisting the government’s fight against poverty and driving financial inclusion. He noted that many individuals who have joined such associations are now better equipped to pay school fees for their children, support their families, and improve their household incomes. Mayor Magezi encouraged members to embrace and maintain a strong savings culture and engage in other income-generating activities to achieve sustainable development.
During the meeting, Mr. Kiiza Johnbosco Komungoro, the newly elected Chairperson of the RUTALOD board, outlined the cooperative’s objective to provide socio-economic development for its members through accessible, profitable, affordable, and sustainable financial services. He assured members of the cooperative’s steady growth and urged continued support and promotion of SACCOs for their sustainability and the committed zeal towards the cooperative’s growth and development.
This story was compiled by **Hon Tugume Muzafaru**, Senior News Reporter in Rubirizi. For media coverage, please call **0702269259**.
