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Promote local banks says Bishop Sheldon at the Business Prayer Breakfast Organized by Millennium Sacco 2012

Vice President hands over akey to a pickup double cabin as a gift from His Excellency the president

Promote local banks says Bishop Sheldon at the Business Prayer Breakfast Organised by Millennium Sacco 2012

On 10th March, 2022, Millennium Sacco 2012 successfully  held a Business Prayer Breakfast at Sheraton hotel, Kampala

The Sacco started in 2012 and it is a brain child of Rt.Rev.Dr Fred Sheldon Mwesigwa(Bishop Ankole Diocese). It   has grown to  7 branches distributed across Ankole Diocese with 16,659 members, savings of over UGX6.3billion, a loan portfolio of over UGX11 bn, and a share capital of over UGX 4 billion. The Sacco made a profit of 2b in 2021

The prayer breakfast was  held under the theme “Pillars for Development” & heard from key speakers, including Joey Adams from the-Hampton pryor group-USA and Prof Ezra Suruma,Chancellor Makerere University & former finance Minister.

Mr. Adams,  said that the obligation of the SACCO is to the membership as a whole, and not necessary to an individual member. His paper, titled “neighbours helping neighbours”. He stressed the fact that Saccos should aim at making their members &  community better.

Prof Suruma,    recommended SACCOS amidst the challenges as away of improving the saving culture. He noted that if the SACCOS are well managed, it would accomplish everything that banks do. “If there are 7 branches, they can be 70, 700 and beyond”, describing this a new opportunity in the history of Uganda. “This is something we can fight for, stand for and there will be no one with the moral courage to say that this is not right, because this is the will of God”.

The Bishop  Sheldon appreciated the President for continuously encouraging Religious leaders to engage in poverty alleviation and development programs.  He requested for increased protection of local banks saying  “If  Uganda is to be truly independent, we should promote local banks, we should not leave the lucrative business to foreign banks.”

Vice President-Jessica Alupo who was the guest of honor at the Prayer breakfast appreciated the church for its complimentary role in development and poverty eradication programs. She lauded the Millennium SACCO 2012 for its growth and vision, and for bringing people in the rural areas into the money economy.
Later, the Vice President handed over a key barnf new pickup to the  SACCO leadership as a gift from the president as a pledge by the VP when he commissioned offices  of Rugaaga branch.

Eng Mugumya Moses Director Megger Technical services and a lead businessman in Uganda offered space at African Hot Pot premises on Buganda Road for a service centre for Kampala branch of Millennium SACCO

At the prayer breakfast people bought shares and  50 million Ug shs  was the  highest  from a lady.

Among those in attendance were Judges, professors, businessmen, civil servants, religious leaders etc. Justice Bamugemerire, Justice Tumwesigye Jotham  Justice Karemani and Prof Mbabazi Pamela chairman National Planning Authority, Dr Roselyn Karugonjo Segawa Chairperson Leadership Code Tribunal,  Dr Kalyegira Pamela Chairman Uganda Law Reform Commission, Hon Prof Kamuntu Ephraim Special Presidential advisor, Mr.Moses Kamabare CEO, National Medical Stores.

 

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