LEGISLATORS ASKED TO TIGHTEN LAWS GOVERNING SACCOS

By Beinomugisha Jonan
www.mknewslink.com
In Mbarara—–
The vice chairperson Mbarara district Godfrey Baryomunsi has called upon members of parliament to amend and tighten the laws that govern Cooperative, Savings and Credit Organizations (SACCOs).
Baryomunsi who is also the chairperson governing board of Nyarubanga Twimukye Sacco in Kakiika Division Mbarara municipality said that, due to weak laws, Saccos have lost money to loan defaulters, since it becomes difficult to use the available laws to apprehend them.

Baryomunsi who was speaking during Nyarubanga Twimukye Sacco Annual General Meeting appealed to legislators plus other Sacco leaders to come up and work together so that the law is amended.
Speaking as the chief guest, The Mbarara Municipality legislator Michael Tusiime said that, since its the role of parliament to make laws, he is to coordinate with Sacco leaders and frame the law that is required.
Tusiime also called upon Saccos to always keenly verify those who apply for loans, before they are given the money.

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