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Village savings: Kalangala collects Shs 6bn in 3 years

Village Savings and Loans Associations (VSLAs) in Kalangala district have collected more than Shs 6 billion in member deposits. 

The money was collected over a three-year period between 2015 and 2018 with the aim of helping residents start income generating activities. The money was saved by 3,800 subscribers to 140 groups VSLAs with the help of Kalangala district community based services department. 

Apparently, 76 groups have received funding from the VSLAs and have started income generating activities such as mechanized brick laying, bakery, poultry and animal husbandry among others. Daniel Muguluma, the officer in charge of the VSLAs, says the tremendous improvement in the saving culture amongst the people in Kalangala has led to further development in the area. 

Muguluma says information from the district commercial office shows that VSLAs have a recurring income of up to Shs 2.5 billion. Kalangala district commercial officer, Cyprian Kavuma says the savings under the associations is the highest in Kalangala's history and  a sucess because the district operated SACCOs in the past ten years failed to take off in all the seven sub-counties.
 
Although Kalangala has been ranked by Uganda Bureau of Statistics as the 7th fastest growing district in the country, many of its people still live in absolute poverty. 
 
Kyamuswa County member of parliament, Carol Nanyondo now wants all people in the district to join the Village Saving and Loans Associations. She said many people have died in the district on numerous occasions due to lack of money to cater for their basic requirements.

Comments

0 #1 kabayekka 2019-02-22 09:57
This is a fresh water Lake Islands District that has of recent been in the environmental news with heaps of rubbish filled up in metal skips adjacent to Lake Nalubaale blue waters.

Great news indeed for the accountants if the District has kept better its loan portifolio.

But then one needs to look at the expenditures of the tax payers money especially on how residents manage the health of our beautiful and Ancient Lake Nalubaale.
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