NEBBI WOMEN GROUPS TIPPED ON EFFECTIVE FUNDS MANAGEMENT

Members of yellow Brigade group in Nebbi Municipality after a meeting with leaders recently.

By Mike Rwothomio

Nebbi

Nebbi Women Groups, under different Savings and Cooperative Societies (SACCO) have been urged to choose leaders with integrity for their effective SACCO Funds management to transform their livelihoods.

Nebbi Municipality leaders sounded this appeal while interfacing with a women group under “Yellow Brigade” in Alengu Cell, Abindu Division, and Nebbi Municipality recently.

According to the leaders, most SAACOs are failing to blossom due poor leadership, and non-committal to their fundamental goals and objectives.

The MP of Nebbi Municipality Hashim Sulaiman upon boosting the group with shillings 2 million, highlighted the profound benefits of effective leadership of all SAACO groups.

Hashim advised the Members to network with like-minded individuals, share experiences, and support each other’s financial goals.

SACCO formation offers countless benefits that beside financial services opens doors to affordable credit, savings opportunities, financial education, and a supportive community, that according to leaders, is being mainly deterred by poor leadership.

The Mayor of Nebbi Municipality Geoffrey Ngiriker, called upon the group,   to take full control as they strive towards financial prosperity, which is a lighthouse of financial empowerment.

Jane Atimango, the chairperson yellow Brigade group in Nebbi Municipality, commended the leaders for their support, assuring of implementing the knowledge received for notable transformations.

In 2023, unknown criminals broke into the offices of Nebbi Workers SACCO in Nebbi Municipality, making off with about Shillings 16 Million and about six suspects arrested in connection to the theft, were staff attached to the Association.

Mayor Ngiriker, also emphasized the need for effective leadership, noting how poor leadership has been dragging down many robust SACCO groups in the past years.

The SACCOs in Nebbi were also rallied to embrace the ongoing life-changing government programs like PDM, Emyooga, and Youth Livelihood Programs amongst others to increase on their funds base.

Apparently, Nebbi is struggling to recover Emyooga funds from string of groups, spread across the Municipality.

It’s reported that most SACCOs under Emyooga in Nebbi lack member-centric focus and synergy to foster the group full speed ahead.

SACCOs provides members with opportunity to actively participate in decision-making processes, offer body of benefits of financial services like affordable credit, savings opportunities, financial education, and a supportive community.

According to the 2020 capability financial survey, only 15 percent of Ugandans take their money in central bank’s regulated deposit financial institutions, and 17 percent use phones for saving their money, which they find convenient. This according to experts highlights Ugandan’s poor saving culture.

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