After the Coops day 2018 celebrations Uganda cooperative Alliance together with Agriterra an organization that supports cooperatives through giving advisory services to cooperatives in Uganda kick started the feasibility study to start a cooperative bank.
On Friday 13th July 2018 the consultants they met with some Sacco’s and unions to discuss the possibility of setting up a anther Cooperative Bank.
Cooperative need affordable finance which is difficult to get from the present profit oriented commercial banks in the Country.
During the Meeting it was clear that cooperators need their own Bank in order to serve their members well. The feasibility study is ongoing with Uganda cooperative Alliance taking lead with consultants from Uganda and Netherlands. Among them is Holke Wierema an economist, Andrew Obowa consultant from Uganda and Bert Steenbergen from Agriterra.
The Participants were from West Acholi Cooperative Union, Wazalendo Sacco, Kebisoni Sacco, Kibinge Coffee Cooperative and Kyegegwa Rural Energy Cooperative.
The feasibility study on Cooperative Bank was the initiative taken by Uganda Cooperative Alliance after the consultative Meeting on the same that took place in January.