The NRM Secretary General Rt. Hon. Richard Todwong has called for the expansion of regional markets to accommodate the increasing production of Ugandan goods.
“There has been increased production of goods among the people in the villages due to Emyooga and the Parish Development Model initiatives but limited markets and low prices remain the main challenges to people’s prosperity,” Todwong said.
He made the appeal this morning while addressing the 2nd National Microfinance and Savings Groups Conference convened by the Ministry of Finance in partnership with Stanbic Bank at Hotel Africana in Kampala. The two-day conference is running under the theme: Leveraging collaborations, Partnerships and Promoting a Savings Culture to Foster Social-Economic Transformation.
Mr Todwong also urged the government to empower the SACCOs with information through extension workers to ensure the production of quality goods to give Ugandans a competitive edge on the market.
The Minister of State for Microfinance, Hon. Haruna Kyeyune Kasolo said that the conference was held to allow stakeholders discuss the opportunities in the sector and challenges affecting people when accessing credit.
“This conference has provided an opportunity for us to discuss how effectively Ugandans can access affordable credit for investment since the majority of the population hardly access loans due to high interest rates,” Kasolo revealed.
He urged Emyooga and Parish Development Model beneficiaries to always utilize the rotational fund and return it for others to use, adding that the money is not a grant.
The Permanent Secretary to the Ministry of Finance and Secretary to Treasury, Dr Ramathan Ggoobi committed that the government will ensure that there is easy access to knowledge and information about financial matters to the population.
“We shall also eliminate poverty by ensuring steady financial flow and inclusivity of all people in the money economy,” Mr Ggoobi said.
