UGANDA: Teachers Sacco receives 5bnUGX

UGANDA: Teachers Sacco receives 5bnUGX

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Government through Microfinance Support Centre has injected Shs5b into the Uganda Teachers’ Co-operative Savings and Credit Union as part of its commitment to better their welfare, especially during this pandemic.

The Uganda Teachers’ Co-operative Savings and Credit Union is an umberella of several teachers’ saving groups across the country.

Ms Joan Asiimwe, the chairperson of the Uganda Teachers’ Co-operative Savings and Credit Union, said: “We want teachers to save and invest, we all know that teachers have suffered a lot during the lockdown. The most affected ones are those in private schools so through our Union, we are looking at teachers, we don’t want them to go back to school and still start asking government to help them.”

Ms Asiimwe made the remarks while visiting different private teachers in Entebbe Municipality who have started businesses for survival.

“We encourage teachers to do something, let them invest in some kind of business besides teaching. But again it has to be an appropriate business which will not affect their teaching,” she added.

Ms Asiimwe also advised the teachers to join our union and be able to get low cost loans.

“If you want to start a business you don’t have to start with much money because you will fail a business, you have to start with what you understand and we encourage teachers to start small,” she added.
Beneficiaries
Ms Asiimwe said their programme has been launched countrywide although the pilot areas are Arua, Wakiso, Soroti, Jinja, Mbarara and Kasese districts but teachers countrywide qualify to get loans.

Ms Asiimwe who handed over Shs5m to the Entebbe Municipal Council Private Teachers’ Initiative on Friday at Victorian High School, said: “”This money is a grant to boost teachers’ small businesses and also motivate them to join our union.”

Mr Stuart Lubwama, the head teacher Victorian High School Entebbe, said the money will help boost their welfare.
“I am so grateful because since schools were closed, we private teachers have suffered a lot. However, I began my side business of selling chapati, it’s what has been supporting me and my family. I therefore call upon teachers not to just sit down and cry to government but rather to open side businesses because there is money. out there to tap”

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