BY WALTER KUMIRA
GULU: SATURDAY, JANUARY 08, 2022
Village Savings and Loan Association (VSLA) Groups have been encouraged to use the money they saved to take their children back to school.
Betty Ocan Aol, the Woman Member of Parliament for Gulu City, while addressing members of Alot Tero Dano Inyim Savings and Credit Group, in Bar-Dege Layibi Division in Gulu City, said the group members should use any interests from their savings to support the education of their children.
She cautioned parents against squandering the money they realize from village savings on luxurious things which do not cause change in their families.
Bosco Ojera, the chairperson of the association, said they thought it wise to break their cycle after the festive seasons so that members can plan on what to do with their money well, especially during this period when children will be going back to schools next week.
Their records show that the group saved sh32,855,000 in 2019, sh89,279,000 in 2020 and sh156,243,000 in 2021, indicating that local economic activity was thriving in Gulu city despite the Covid-19 lock-down.
Ojera explained that women outclassed their male counterparts in last year’s savings and promised that they would do better in 2022 since all restrictions on the economy have been lifted.
Patrick Oola Lumumba, The Mayor of Bar-Dege Layibi Division, commended Alot Tero Dano Inyim group members for their positive thinking for sharing their dividends after the festive season.
He said many savings groups share dividends and even the whole savings before Christmas that they end up spending all the money on meat, clothes and alcohol yet when time for schools come, they have no money for fees and other necessities for children.