Kadaga Launches Parliament Journalists SACCO, Advises them to Think Big Investments

The Speaker of Parliament, Rebecca Kadaga has advised journalists to always think of establishing business projects away from their profession as a way of supplementing their meager salaries.

This she noted while presided over the launch of the Uganda Parliamentary Journalists (UPJ) Cooperative Savings and Credit Society that is aimed at enhancing the welfare of journalists in the country especially those who correspond from Parliament.

Uganda Parliamentary Press Association (UPPA) headed by New Vision’s Moses Mulondo is a membership body that brings together over 200 journalists that report stories and Parliament proceedings.

Kadaga appreciated the move by journalists to form a saving group noting that this the only way they can supplement their meager earnings from they get from their work places.

The Speaker said that the SACCO that has been launched must grow basing on the commitment of all members

“I think you are in this for the whole, you have started it and you must see it through; we are at a time were we are different from our grandfathers; my grandfather and others they had very powerful SACCOs like Busoga growers, Katonzi, Banyankole Kweterena, they were big and owned big investments all over the country. So why can’t we also so the same yet we are more educated and digital,” Kadaga said.

Kadaga encouraged the journalists to have bigger plans of investment other than only using the SACCO to lend money to themselves.

“Other than lending each other money, do you have bigger plans! This must be a serious investment and you must all be focused,” Kadaga noted.

The Speaker gave a contribution of Shs3million to help kick start the SACCO and pledge for her continued support as the patron of the savings group.

During the same event, the State Minister of Finance, David Bahati noted that he has faith in the Parliament journalists and with the SACCO that is being launched it will help them benefit from a number of government programs.

Bahati advised journalists to always use their profession to explore opportunities that are before them.

“You can make money from nothing; MPs are here struggling with branding and we are now in the right period of campaigns were your communication skills are highly needed,” Bahati said.

The State Minister for Micro finance, Haruna Kasolo as well appreciated the move by journalists to organize the saving group and pledged to offer all the technical support needed to the SACCO.

He encouraged them to develop the culture of saving and not only expect grants and gifts from other sources.

“A salary can never be enough, only those people that are organized and embrace the culture of saving are able to establish a number of income generating activities,” Kasolo said.

The Minister gave a total of Shs10m to the SACCO as support from the Micro Finance Support Centre.