Eyewitness  News
  • Home
Sunday, March 26, 2023
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News
No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News
No Result
View All Result
Eyewitness  News
No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News

Plans to Ressurect Coo-peratives Banks Under Way

July 4, 2018
in Latest News
Reading Time: 2 mins read
0
Share on FacebookShare on Twitter

PLANS TO RESURRECT CO-OPS BANK UNDER WAY

By Damba Roggers

RelatedPosts

Monitoring of Local Gov’ts Lacking-MPs

Parliament Rejects Govt Report for Lack of Quick Interventions.

Opposition Call off Parliament Boycott

Govt confirms, plans are under way to revitalize the defunct cooperative bank, with consultations under way to understand the reasons why the former bank was liquidated.

According to the state minister for cooperatives, Hon. Frederick Gume, the bank will provide soft and affordable loans to farmers which cannot be offered by the current commercial banks. The cooperative bank will be issuing low interest rates estimated to stand at 10% annually as compared to the 10% charged on a monthly basis by commercial banks.

However, the general secretary Ugandan cooperative alliance, Ivan Asiimwe says, they are in consultations with various stakeholders among them, being the central bank, former cooperative bank operators in the country to study the cause of the collapse of the previous bank so as to come up with better strategies to grow the currently proposed new coop bank.

Farmers in the country who intend to secure loans from banks are being charged at the same rate as other borrowers which affects their growth hence the current stagnation of the agriculture sector in the country and with the 10 million coop members, Uganda coop alliance is sure the numbers are enough to contribute to the startup capital of this bank.

Uganda has 15,000 registered cooperatives dealing in various activities. like, transport, agricultural marketing, diary, fishing, multipurpose etc.

In a bid to interest and improve on the awareness of Ugandans on matters of coops, government through the coop ministry is planning to have the curriculum revised to have cooperative taught as an independent subject.

Speaking ahead of the international cooperatives day slated for Saturday this week, the state minister for cooperatives Frederick Gume says, most Ugandans have this mentality that coops are for elderly people and the poor which according to the minister is false.

He further mentions that if the curriculum is revised and a special subject on coops is introduced, this will help the young generation grow up knowing the importance of cooperatives to the country’s growth.

The Minister also reveals that they are planning to see that the cooperatives colleges in Kigumba and Tororo are up graded to start offering degrees instead of offering only diplomas.

He also notes that plans to compensate cooperatives around the country are ongoing with eight coops in Mbarara, masaka, Northern and Eastern already compensated with a tune of UGX.13BN spent and over 35 coops waiting to be compensated.

The total budget estimated to cover the compensation mounts to, UGX.140Bn.

-End-

Previous Post

World Cup 2018: Comeback win bodes well for Belgium’s ‘golden generation’

Next Post

Oulanyah clarifies on passing of social media tax

Related Posts

Monitoring of Local Gov’ts Lacking-MPs
Latest News

Monitoring of Local Gov’ts Lacking-MPs

January 19, 2023
0

Inspection and monitoring of service delivery at local government level remains wanting, according to a section of Members of Parliament...

Read more
Parliament Rejects Govt Report for Lack of Quick Interventions.

Parliament Rejects Govt Report for Lack of Quick Interventions.

April 12, 2022
Opposition Call off Parliament Boycott

Opposition Call off Parliament Boycott

November 20, 2022
Aringa MP- Calls for More Funds For Yumbe Regional Hospital

Aringa MP- Calls for More Funds For Yumbe Regional Hospital

December 7, 2021
Oulanyah Rallies Agago to Take up Vaccination

Oulanyah Rallies Agago to Take up Vaccination

December 4, 2021
Health Consumers Push For Patients’ Rights Law 

Health Consumers Push For Patients’ Rights Law 

October 26, 2021
Next Post
Oulanyah clarifies on passing of social media tax

Oulanyah clarifies on passing of social media tax

The Construction of Radiotherapy Bunkers, at  95%   Nearing Completion

The Construction of Radiotherapy Bunkers, at 95% Nearing Completion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Phaneroo Boss, Sudhir Grilled Over Nakawa Land

Phaneroo Boss, Sudhir Grilled Over Nakawa Land

April 22, 2022
MPs – Reaction to The State of Nation Address

West Nile MPs, Govt Chief Whip Clash Over Electricity in the Region

January 15, 2023
Peter Magomu Mashate is a London based Ugandan Barrister of the Honourable Society of Lincoln’s Court in London

Ugandan Lawyer Mashate: The Unsung NRM Hero!

March 24, 2019
Gov’t Procures Sh1.9b Bone Marrow Transplant Machines

Gov’t Procures Sh1.9b Bone Marrow Transplant Machines

November 14, 2022
Budget Advocates Concerned With New Wave Of Corruption In Govt.

Budget Advocates Concerned With New Wave Of Corruption In Govt.

1
Musoke Ibrahim a father to Rahim who is now eight years

Being A Good Father Does Not Mean Money But Love & Care

1
URBRA Cautions On NSSF Mid-Term Access 

URBRA Cautions On NSSF Mid-Term Access 

1

Hello world!

0
Discussion To Downsize Parliament  Is Good- Obua

Discussion To Downsize Parliament  Is Good- Obua

March 24, 2023
Govt Entities Struggle to Pay Water Bills.

Parliament Will Not Be Intimidated Over Anti-Homosexuality Bill – Speaker

March 23, 2023
Uganda Parliament Passes The Anti Homosexuality Bill 2023

Parliament Honours Late Speaker – Oulanyah

March 23, 2023
Museveni Rallies Ugandans To Embrace-PDM

UN High Commissioner for Human Rights Urges Museveni  Not to Sign – Anti-Homosexuality Bill

March 22, 2023

Recent News

Discussion To Downsize Parliament  Is Good- Obua

Discussion To Downsize Parliament  Is Good- Obua

March 24, 2023
Govt Entities Struggle to Pay Water Bills.

Parliament Will Not Be Intimidated Over Anti-Homosexuality Bill – Speaker

March 23, 2023
Uganda Parliament Passes The Anti Homosexuality Bill 2023

Parliament Honours Late Speaker – Oulanyah

March 23, 2023
Museveni Rallies Ugandans To Embrace-PDM

UN High Commissioner for Human Rights Urges Museveni  Not to Sign – Anti-Homosexuality Bill

March 22, 2023

Eyewitnessug.com is Licensed by Uganda Communications Commission (UCC) Under Dominion Media Limited.

Dominion Media Limited is registered by Uganda Revenue Authority.

For Advertisement Reach out to Marketing Department via.
Email: [email protected]

Contact us through our Postal Address.
P.O.BOX 21157 Kampala-Uganda.

Browse by Category

  • Agiriculture
  • Agriculture
  • Business
  • Development
  • Diplomacy
  • ECONOMY
  • Editor's Pick
  • Education
  • Entertainment & Arts
  • Enviroment
  • Faith
  • Feature News
  • Governance
  • Health
  • International
  • Latest News
  • obituary
  • Opinion
  • Politics
  • Politics
  • Security
  • Social
  • Sports
  • Technology
  • Tourism

Recent News

Discussion To Downsize Parliament  Is Good- Obua

Discussion To Downsize Parliament  Is Good- Obua

March 24, 2023
Govt Entities Struggle to Pay Water Bills.

Parliament Will Not Be Intimidated Over Anti-Homosexuality Bill – Speaker

March 23, 2023
  • Home

© 2023 Allrights Reserved EYEWITNESS NEWS UGANDA

No Result
View All Result
  • Home
  • Diplomacy
  • ECONOMY
  • Agriculture
  • Faith
  • Security
  • Tourism
  • International
  • Latest News

© 2023 Allrights Reserved EYEWITNESS NEWS UGANDA

error: Content is protected !!