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Teacher Saccos receive Shs5 billion from government
The assistant commissioner of the Saccos financial services co-operatives, Mr Robert Mpakibi Waiswa(left), and the chairperson WaSU, Mr Stephen Nabende (right), hand over a cheque to Unatu Sacco in Kampala yesterday. PHOTO | KELVIN ATUAHIRE
What you need to know:
- Meanwhile, the private school owners through their associations, the Federation of Non-State Education Institutions (FENEI) and the National Private Educational Institutions Association (NPEIA), said private teachers are also going to share Shs20 billion given to them by the President.
Government through the Walimu Saccos Union (WaSU) has disbursed Shs5 billion to different teachers’ co-operative savings and credit Unions (Saccos) to help struggling teachers during the lockdown.
Several teachers have endured months of uncertainty due to the closure of schools as part of the measures to contain the spread of Covid-19.
Mr Stephen Nabende, the chairperson WaSU, an umbrella organisation that governs different government teachers’ Saccos in Uganda, while handing over the dummy cheques to the Sacco managers at the WaSU offices in Kampala yesterday, said the the money was part of Shs17.185 billion that was received out of the Shs25 billion promised by the President in 2015.
“Walimu has grown greatly and is championing teachers’ economic development and to date, Shs17.185 billion has been received to enable the teachers to access funds through Walimu for their economic development,” said Mr Nabende.
A total of 22 saccos with more than 1,000 teachers are set to benefit from this first disperse of funds across the country.
Mr Nabende encouraged other teachers upcountry to open Saccos under Walimu, which will pay the funds in phases on request.
“When you look at areas like Isingiro, Ibanda, Dokolo, and others, they have inactive Saccos while others do not have any and without these Saccos, teachers have no way to access such funds. So as Walimu, we shall be liaising with district leaders in areas with no Saccos so that teachers can directly work with Walimu,” Mr Nabende said.
Mr Rashid Obali Kelil, the manager of Pagisa SACCO in Arua, says this initiative from Walimu is better than getting loans from banks and other money lenders who charge high interest rates.
“Walimu is friendly and the interest rates are fair enough to enable us continue developing our businesses as we get the loans,” said Mr Obali.
Meanwhile, the private school owners through their associations, the Federation of Non-State Education Institutions (FENEI) and the National Private Educational Institutions Association (NPEIA), said private teachers are also going to share Shs20 billion given to them by the President.
“The President gave money for the private schools and that money cannot be given out before we clear how it can be distributed to different Saccos. We do not want that money to disappear. As a federation, we shall demand that both ministries of Education and Finance sit down with us to agree on an efficient, transparent and acceptable framework that is going to benefit all teachers and not some,” said Mr Patrick Kaboyo, the FENEI national secretary.
