RUTH Nankabirwa, the micro-finance state minister, this week launched the first savings, credit and cooperative organisation (SACCO) in Sheema South, Bushenyi.
The Sheema Savings and Credit Union has over 10,000 members incorporating three SACCOs.
Nankabirwa lauded the members for forming a union which she said was viable in fighting against poverty.
“I am excited that the people of Sheema formed the first SACCO union in the country,” the minister said.
Nankabirwa was convinced that the formation of the union would help to eliminate poverty in the area.
She cautioned the members against money lenders.
Prof. Ephraim Kamuntu, the planning state minister and the area MP, said the larger the SACCO, the greater the efficiency for development.
Emmanuel Mwebesa, the union chairman, said the apex body was formed to address challenges faced by small SACCOs.
