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Financial literacy training of Emyooga and PDM leaders from Ibanda Municipality (COURTESY PHOTO)

Ibanda: Emyooga, PDM SACCO leaders urged to uphold accountability

Leaders of Emyooga and Parish Development Model (PDM) savings and credit cooperative societies (SACCOs) have been urged to embrace values and practices that can help to improve group’s performance and members’ financial situation.

Speaking during the financial literacy training of 200 Emyooga and PDM leaders from Ibanda Municipality, Stanbic Business Incubator business manager, Sheila Agaba said that the SACCO leaders should ensure accountability and openness, noting that these values were crucial for the survival and sustainability of the cooperatives.

Agaba pointed out that unethical practices and looking at the SACCOs as government projects will stifle their growth.

She said that it is crucial for them to design policies and guidelines that aim at building the groups and boosting the members’ financial standing.

Deo Tugume, principal commercial officer Ibanda Municipality, emphasized the need for necessary structures and facilities to safeguard the Emyooga and PDM SACCOs and also support their growth.

ICON vice-chairman, Justus Ahimbisibwe said the training sought to sharpen leaders in Emyooga and PDM with the necessary skills to perform their duties well, noting that learning how to handle money was crucial for community development.

Angelo Nsabimana, from the fishermen’s SACCO, appreciated the training saying it was timely and would help the leaders to do the jobs well, especially putting in place the requisite policies to support accountability and growth.

Ivan Tuhumweire, the head of Financial Fitness Academy at Stanbic Bank financial education said it is important for SACCOs to harness financial inclusion. 

The training, held at Ibanda University on Wednesday afternoon was organized by Ibanda Community Organisation Network (ICON) with support from Stanbic Bank.

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