The National Resistance Movement (NRM) Secretary General, Richard Todwong has called for the expansion of regional markets to accommodate Ugandan goods.
“There has been increase in production of goods in the villages due to Emyooga and the Parish Development Model initiatives, but limited markets and low prices are still a challenge,” Todwong said.
He made the appeal during the 2nd National Microfinance and Savings Groups Conference convened by the Ministry of Finance at Hotel Africana in Kampala.
Todwong also urged the government to empower SACCOs with information through extension workers. He said that this will ensure the production of quality goods that will give Ugandans a competitive edge on the market.
The Minister of State for Microfinance, Haruna Kyeyune Kasolo said that the conference was held to allow stakeholders discuss the opportunities in the sector and challenges affecting people when accessing credit.
“This conference has provided an opportunity for us to discuss how effectively Ugandans can access affordable credit for investment since the majority of the population hardly access loans due to high interest rates,” Kasolo revealed.
He urged Emyooga and Parish Development Model beneficiaries to always utilize the rotational fund and return it for others to use, adding that the money is not a grant.
The Permanent Secretary to the Ministry of Finance and Secretary to Treasury, Dr Ramathan Ggoobi said, “We shall also eliminate poverty by ensuring steady financial flow and inclusivity of all people in the money economy.”