NRM Secretary General Richard Todwong has called for the expansion of regional markets to accommodate the increasing production of Ugandan goods.
“There has been increased production of goods among the people in the villages due to the Emyooga and Parish Development Model initiatives, but limited markets and low prices remain the main challenges to people’s prosperity,” Todwong stated.
He made this appeal this morning while addressing the 2nd National Microfinance and Savings Groups Conference convened by the Ministry of Finance at Hotel Africana in Kampala.
The two-day conference is being held under the theme: “Leveraging Collaborations, Partnerships, and Promoting a Savings Culture to Foster Social-Economic Transformation.”
Todwong also urged the government to empower SACCOs with information through extension workers to ensure the production of quality goods, giving Ugandans a competitive edge in the market.
The Minister of State for Microfinance, Hon. Haruna Kyeyune Kasolo, said that the conference was held to allow stakeholders to discuss the opportunities in the sector and the challenges people face when accessing credit.
“This conference has provided an opportunity for us to discuss how effectively Ugandans can access affordable credit for investment, as the majority of the population hardly access loans due to high interest rates,” Kasolo remarked.
He urged beneficiaries of the Emyooga and Parish Development Model to always utilize the rotational fund and return it for others to use, emphasizing that the money is not a grant.
The Permanent Secretary to the Ministry of Finance and Secretary to the Treasury, Dr. Ramathan Ggoobi, committed that the government would ensure easy access to knowledge and information about financial matters for the population.
“We shall also eliminate poverty by ensuring a steady financial flow and inclusivity of all people in the money economy,” Ggoobi stated.
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