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Cooperative movement looks to foreign partners as plans to revive the Cooperative bank gain ground
The Uganda Cooperative Alliance is currently spearheading the efforts intended at easing the burden of financing for millions of its members grouped under cooperative societies and unions countrywide.

The cooperative movement in their bid to revitalize the co-operative bank may not bank on the support of government because evidently, the will to help is slow in coming.

 

Instead, various delegates attending a National consultative dialogue on the Cooperative Bank revival, have resolved to look for joint ventures with foreign established cooperatives.

 

But even then, the Ministry of Finance is advising that the Uganda Cooperative Credit Finance & the Microfinance Support Centre, may have to rationalise their operations in the quest for a Bank.Running attempts by the cooperative movement to secure at least 25B shillings, a minimum capital requirement to enable the revival of the Cooperative Bank, have be a long dream, according to some.

 

The Uganda Cooperative Alliance is currently spearheading the efforts intended at easing the burden of financing for millions of its members grouped under cooperative societies and unions countrywide.

 

In what appears to be a wider capital demand, financial experts and cooperatives admit a minimum capital requirement of 100B could kick-start resurrection of the defunct bank.

 

This attempt comes at a time when many enterprises more so agro-based enterprises remain weak or have collapsed because of exorbitant commercial related pricing of credit, deemed as undesirable.