Uganda
Cooperative Alliance (UCA) has embarked on country wide consultations on a
proposal to restore the defunct Cooperative Bank.
The
Cooperative Bank was formed in 1964 but it became defunct in 1999 because of
under capitalization.
Speaking
to farmers drawn from Eastern Uganda at Mbale Rose Wood Hotel, John Tweyambe,
the board chairperson Uganda Cooperative Alliance said government wants to
revive the Cooperative Bank to enable famers access credit at lower interest
rates.
Ivan
Assimwe the UCA General Secretary says they are meeting farmers and other
stakeholders to devise means on how to establish the Bank.
Andrew
Namakola the Bugisu Cooperative Union (BCU) SACCO Manager has welcomed the move
saying it will improve the economic well-being of farmers.
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