KYAPS MAKES UP TO 1.6 B UGX PROFIT DESPITE COVID 19 CHALLENGES

By Richard Tumwebaze

www.mknewslink.com

In Bushenyi—

The Managing Director National Water and Sewerage Corporation (NWSC) Eng. Dr. Silver Mugisha has called upon financial institutions to embrace digitalization system to reduce on costs of their operation.

Eng. Dr. Silver Mugisha was today speaking at Kyamuhunga People’s Sacco KYAPs Annual General meeting that was held at Social Catholic Center hall Kyamuhunga.

Mugisha noted that with the technology advancement in the world, there is a need for financial institutions to get digitized as a way to save time and reduce costs incurred in transportation.

Eng. Dr. Silver Mugisha of NWSC

The KYAPs Board Chairman Paul Kahigyi noted that as an institution, they look forward to stopping borrowing funds from external sources but instead generate their income from the members.

He said that this will enable the Sacco develop at a faster speed since all the interests remain within the institution.

Meanwhile John Bosco Atwijukire the Kyamuhunga People’s Sacco General Manager said that despite COVID-19 challenges, they were able to make a profit of 1.6 billion shillings in last year’s financial