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By Ojok Robert Mone Gulu City Office of the Prime Minister has urged NUSAF groups in Gulu city to expand lending to members in a bid to establish village bank. During a bench marking visit by a team from Nigeria to assess the impact of NUSAF project on village
By Ojok Robert Mone
Gulu City
Office of the Prime Minister has urged NUSAF groups in Gulu city to expand lending to members in a bid to establish village bank.
During a bench marking visit by a team from Nigeria to assess the impact of NUSAF project on village savings and loan associations, Peter James Malinga who works under Development Response to Displacement Impacts Project (DRDIP) in the OPM says the SACCO members can now practice external lending to boost their interest.
Gulu cluster 1 strengthening fund is benefiting 39 SACCOs spread in 9-project villages totaling to 90 million shillings under the component of Livelihood Investment Support comprised of Improved House Hold Income Support Programs and the Sustainable Livelihoods Pilot.
Florence Aol Okech the community business Agent said since 2021, Techo village that has 6-selfhelp groups has received 36-million shillings and the interest generated so far is about 15-million shillings.
Lucy Anena the chairperson of Techo village SACCO said they have made 14-rounds of borrowings that have improved on the livelihoods of small business enterprises but explains that members need more money that the SACCO at the moment can’t provide.
Charles Okibu, the chairperson of Gulu cluster 1 strengthening fund also called Layibi cluster thinks NUSAF4 may help them achieve establishment of village bank.
According to Okibu, 90-million shillings received in 2021 is not yet sufficient to establish village bank unless office of the prime minister adds more money in their account.
The Third Northern Uganda Social Action Fund (NUSAF3) Project was declared effective on March 14th 2016. NUSAF3 is a successor five-year Project to NUSAF2. The Project Development Objective of NUSAF3 is to provide effective income support to and to build the resilience of poor and vulnerable households in Northern Uganda.
NUSAF3 is designed to assist the targeted poor communities of Northern Uganda to transit to sustainable livelihoods and towards the Government’s goal of a middle-class economy.
COVER PHOTO: Courtesy visit by a team from Nigeria at Techo village NUSAF groups in Bardege-Layibi division Gulu city By Ojok Robert Mone