Todwong calls for more markets for local products
By Our reporter
KAMPALA – The National Resistance Movement (NRM) Secretary General Mr Richard Todwong has called for expanding regional markets to accommodate the increasing local production.
“There has been increased production of goods among the people in the villages due to Emyooga and the Parish Development Model initiatives but limited markets and low prices remain the main challenges to people’s prosperity,” Todwong said.
He appealed while addressing the 2nd National Microfinance and Savings Groups Conference convened by the Ministry of Finance at Hotel Africana in Kampala on July 18th, 2024. The two-day conference is running under the theme: Leveraging collaborations, Partnerships and Promoting a Savings Culture to Foster Social-Economic Transformation.
Todwong also urged the government to empower the SACCOs with information through extension workers to ensure the production of quality goods to give Ugandans a competitive edge on the market.
Minister of State for Microfinance Mr Haruna Kyeyune Kasolo said that the conference provided stakeholders a platform to discuss the opportunities in the sector and challenges affecting people when accessing credit.
“This conference has provided an opportunity for us to discuss how effectively Ugandans can access affordable credit for investment since the majority of the population hardly access loans due to high interest rates,” Kasolo revealed.
He urged Emyooga and Parish Development Model beneficiaries to always utilize the rotational fund and return it for others to use, adding that the money is not a grant.
The Permanent Secretary to the Ministry of Finance and Secretary to Treasury, Dr Ramathan Ggoobi committed that the government will ensure that there is easy access to knowledge and information about financial matters to the population.
“We shall also eliminate poverty by ensuring steady financial flow and inclusivity of all people in the money economy,” Mr Ggoobi said.
