RUBIRIZI – Cooperative members strongly cautioned against loan misuse and reckless borrowing, urged to embrace a robust savings culture as a sure pathway to eradicating poverty and achieving sustainable family development.
Thank you for reading this post, don't forget to subscribe!The stern caution was issued by the Rubirizi District Principal Commercial Officer, Musimenta Benon, during the Annual General Meeting (AGM) of the Rubirizi Tax Owners, Drivers, Conductors, and Lorries Cooperative Society Limited (RUTALOD).
Addressing the gathered cooperative members at the scenic Mayors Gardens in Nyakasharu, Musimenta emphasized the importance of upholding SACCO values, particularly unity, as a cornerstone for economic empowerment and community development.
He cautioned members against the growing trend of multiple borrowing and the mismanagement of funds acquired from SACCOs, noting that such practices undermine the very purpose of financial inclusion.
“Development in our community should not be left to the government alone. Citizens must also play their part. When you borrow, borrow with purpose. Let every coin work towards lifting your family out of poverty and building a future of financial independence,” Musimenta asserted.
The Chief Guest, John Magezi, the Mayor of Rubirizi Town Council, commended RUTALOD for its instrumental role in supporting the government’s efforts to combat poverty and drive financial inclusion.
He noted with pride that many individuals who have joined associations are now able to pay school fees for their children, provide for their families, and significantly improve their household incomes.
“RUTALOD is not just a cooperative; it is a lifeline for our people. I urge every member to maintain a strong savings culture and engage in other income-generating activities. This is the sure path to sustainable development and long-term prosperity,” said Mayor Magezi.
Meanwhile, the newly elected RUTALOD Board Chairperson, Mr. Kiiza Johnbosco Komungoro, reaffirmed the cooperative’s resolve to uplift members through accessible, profitable, and sustainable financial services.
He assured the gathering that the SACCO stands on a firm foundation and is progressing steadily, appealing to all members to remain dedicated supporters and promoters of this great institution.
“We are growing steadily, and this growth is a testament to the trust and dedication of our members. I assure you that your cooperative is on a solid foundation. Members, continue supporting and promoting RUTALOD wherever you go, with a committed zeal towards the growth and sustainability of this great SACCO,” Kiiza stated.
The Annual General Meeting served as a vibrant platform for dialogue, reflection, and forward-planning, as members reaffirmed their collective resolve to build a financially inclusive future.
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