Give PDM funds to Saccos not individuals- Prof Kamuntu
The senior presidential advisor on economic affairs, Prof. Ephraim Kamuntu has advised that the Parish Development Model [PDM] funds should be channeled to the beneficiaries through already existing Saccos, which have proven consistence, and resilience through the times.
Kamuntu who made the remarks while speaking as the chief guest at Kyamuhunga People’s SACCO (KYAPS) general meeting commended the PDM as one of the best approaches to fight poverty adding that the approach of giving money directly to the people has never worked in any country to change livelihoods sustainably, especially that the communities have not been well prepared to receive the money.
Kamuntu urged Ugandans to embrace these funds that will be at every parish in the country to help every family to engage in income-generating activities.
Paul Turyamureba Kahigi, the KYAPS board chairman said that the Sacco is embracing the electronic system of credit reference Bureau to curb down the cost of multiple borrowing that is causing a lot of contradictions in the institution.
John Bosco Atwijukire, the general manager decried the high rate of defaulters among the Sacco members who get loans which is affecting the Sacco liquidity and those seeking new loans.