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🇺🇬 Uganda /Economy & Trade

Ugandan Accountants Urged to Promote Affordable Finance and Wealth Creation

From AllAfrica Uganda · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Uganda’s Microfinance Support Centre urged accountants to support Saccos, groups and microfinance institutions.
  • The agency said affordable credit and financial skills can help economically active poor Ugandans start small enterprises.
  • MSC provides financing to institutions rather than individuals and offers credit at an annual interest rate of 8%.

Ugandan accountants have been asked to use their professional networks to help more people join savings and credit cooperatives and gain access to affordable finance.

I would like to invite all of us here, because I know you are a voice in your different platforms. I know you know of Saccos that are within your different regions, but also to mobilise people to join those Saccos, to support them, to direct them to where we are.

· Tadeo AtuhuraThe MSC communications manager urged accountants to connect communities with savings and credit cooperatives.

The appeal came from the Microfinance Support Centre during the three-day 31st Annual Seminar of the Institute of Certified Public Accountants of Uganda at Imperial Resort Hotel in Entebbe. Tadeo Atuhura, MSC’s communications manager, said accountants could connect communities with Saccos in their regions and help strengthen those institutions.

“I would like to invite all of us here, because I know you are a voice in your different platforms,” Atuhura said. “I know you know of Saccos that are within your different regions, but also to mobilise people to join those Saccos, to support them, to direct them to where we are.”

For the last 25 years, we have been at the helm of ensuring that we transform the livelihoods of the active poor, and we do that as an agency of government by providing capacity building, ensuring that people are trained, people are given skills and knowledge before we are able to give them affordable credit.

· Tadeo AtuhuraAtuhura described MSC’s mission and approach to providing affordable finance.

MSC says it has worked for 25 years to improve the livelihoods of economically active poor Ugandans through training, skills development and access to credit. The agency lends at 8% annually, but does not provide funds directly to individuals. Instead, it finances Saccos, groups and microfinance institutions.

Our biggest target is every active Ugandan, every active poor Ugandan should be able to have affordable credit, and then they should be in the Sacco, and then create wealth. Everyone must be into the money economy.

· Tadeo AtuhuraHe described the agency’s goal of expanding access to formal finance.

“Our biggest target is every active Ugandan, every active poor Ugandan should be able to have affordable credit,” Atuhura said. He argued that wealth creation can begin with small income-generating activities such as poultry and piggery, allowing households to move toward running their own enterprises.

Somebody can be able to rea

· Tadeo AtuhuraThe provided text cuts off this quotation while discussing small-scale income-generating activities.
About this summary

Originally published by AllAfrica Uganda in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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