Building a more inclusive and equitable economic order helps in shaping a financial system that is responsive to the needs and aspirations of the people. Every country should strive to have such a financial system. But this requires political will as well as good leadership at all levels.
An inclusive economic order involves creating room for more people to participate in the mainstream economy and to partake the opportunities of an expanded market economy.
I am glad the Government has shown commitment towards ensuring inclusive and equitable growth by setting up the Rural Finances Service Programme.
According to the World Council of Credit Unions, 43,000 credit unions provide financial services to over 136 million members in 91 countries. Many well-managed Savings and Credit Cooperative Societies (SACCOs) have empowered many people, especially the rural poor women, whose roles and responsibilities are critical to the sustenance of households and the future generation.
When these people join SACCOs, they access credit which helps them participate in the economic order.
The minister of trade, industry and cooperatives, Amelia Kyambadde, has said that government is to revive the Uganda Cooperative Bank to steer the performance of cooperative unions in the country.
Kyambadde was speaking at the commissioning of the new office block of Kyankwanzi SACCO Limited located at Lusoozi trading center Kyankwanzi sub-county, Kyankwanzi district.
It coincided with the SACCO annual general meeting where among other things, the SACCO budget for the financial year 2016/2017 amounting to sh330,600,000 was passed by the members.
In a bid to realize its Resilience and Livelihoods strategic objective of promoting farming as a business, World Vision Uganda has signed a partnering agreement with the Uganda Cooperative Alliance (UCA), a body that brings together all farmers’ cooperatives across the country.
UCA is an apex body of the Ugandan Co-operative movement in Uganda and has three main mandates: to carry out advocacy and representation of the Ugandan co-operatives; to provide education to co-operatives and their members and to mobilize resources for the development of the co-operative movement in Uganda.