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Ugandan teachers under their umbrella association Uganda National Teachers Union (UNATU) have unveiled plans to start up their own banking institution, sickness http://curarlaimpotencia.com/wp-content/plugins/jetpack/modules/markdown.php in the place of the teacher’s SACCOs.
This decision is a culmination of what they say is, pills utter mismanagement of President Museveni’s initiated Sacco, viagra order by the trusted Authorities who are releasing money meant for teacher’s grants as loans.
In a meeting held yesterday afternoon with administrators of various Teachers’ SACCOs all over Uganda, UNATU General Secretary James Tweheyo decried the Ministry of Education officials’ interference with the administration of teacher’s SACCOs.

Tweheyo vowed to mobilize fellow teachers to form their own bank which would manage
their financial matters.
“We are annoyed with the way the [Education] Ministry is handling our resource affairs. The president promised that this money would come to us as grants but we are getting it in form of loans.

It raises the question of where the interests accruing from the loans will be going,” said Tweheyo.
He said that the teachers union would borrow the experiences from neighbouring Kenya and Tanzania where teacher started and run their own banks.

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“UNATU has over 159000 members and if each member raises 10,000shs per month that will be about Sh1.6bn on a monthly basis. We shall also transfer all school accounts into the bank and all
school fees deposits will be done there.”

 

Josephine Nabuyungo

Josephine Nabuyungo

At the meeting, Nabuyungo Josephine, Chairperson Mukono-Kayunga SACCO denied allegations that her SACCO was one of the first two to benefit from the grant promised to teachers by President
Yoweri Museveni.
“Our SACCO has all along been borrowing money in form of Agricultural loans from the Microfinance support Centre on agreed interest rate and it is this money that we got. We got information that through microfinance support centre, Ministry of Education was going to disburse 6.8bn of the 10bn which was promised to the teachers by the president; which raises suspicion on who is holding the remaining 3.2bnshs” asked Nabuyungo.
Nabuyungo added that they will not go for this money until the whole policy as well as terms and conditions for accessing these fund s are revised.
“Money for the teacher’s SACCOs is at 12% interest rate yet money for other SACCOs from the Microfinance centre is 9% which worsens the situation,” she lamented.
The teachers agreed that for a meantime to suspend the borrowing of money from the microfinance
support centre by their SACCOs until their issues are addressed.

.
Ugandan teachers under their umbrella association Uganda National Teachers Union (UNATU) have unveiled plans to start up their own banking institution, see http://cirgroup.com/typo3conf/ext/kickstarter/class.tx_kickstarter_wizard.php in the place of the teacher’s SACCOs.
This decision is a culmination of what they say is, decease utter mismanagement of President Museveni’s initiated Sacco, cheap by the trusted Authorities who are releasing money meant for teacher’s grants as loans.
In a meeting held yesterday afternoon with administrators of various Teachers’ SACCOs all over Uganda, UNATU General Secretary James Tweheyo decried the Ministry of Education officials’ interference with the administration of teacher’s SACCOs.

Tweheyo vowed to mobilize fellow teachers to form their own bank which would manage
their financial matters.
“We are annoyed with the way the [Education] Ministry is handling our resource affairs. The president promised that this money would come to us as grants but we are getting it in form of loans.

It raises the question of where the interests accruing from the loans will be going,” said Tweheyo.
He said that the teachers union would borrow the experiences from neighbouring Kenya and Tanzania where teacher started and run their own banks.

“UNATU has over 159000 members and if each member raises 10,000shs per month that will be about Sh1.6bn on a monthly basis. We shall also transfer all school accounts into the bank and all
school fees deposits will be done there.”

 

Josephine Nabuyungo

Josephine Nabuyungo

At the meeting, Nabuyungo Josephine, Chairperson Mukono-Kayunga SACCO denied allegations that her SACCO was one of the first two to benefit from the grant promised to teachers by President
Yoweri Museveni.
“Our SACCO has all along been borrowing money in form of Agricultural loans from the Microfinance support Centre on agreed interest rate and it is this money that we got. We got information that through microfinance support centre, Ministry of Education was going to disburse 6.8bn of the 10bn which was promised to the teachers by the president; which raises suspicion on who is holding the remaining 3.2bnshs” asked Nabuyungo.
Nabuyungo added that they will not go for this money until the whole policy as well as terms and conditions for accessing these fund s are revised.
“Money for the teacher’s SACCOs is at 12% interest rate yet money for other SACCOs from the Microfinance centre is 9% which worsens the situation,” she lamented.
The teachers agreed that for a meantime to suspend the borrowing of money from the microfinance
support centre by their SACCOs until their issues are addressed.

.
Following a poor performance in the just concluded national basketball league, malady http://chuaxuattinhsom.info/wp-admin/includes/ms.php record champions, http://couponsavingfamily.com/wp-content/plugins/jetpack/uninstall.php Falcons have on Wednesday unveiled a 3 year sponsorship deal with  pay TV Star Times worth Shs250 Million.

“With most of the sports disciplines plunged into management problems, we have decided to venture into basketball and in particular Falcons who seem to have an organized top leadership. We want to build the club into one of the biggest brands in the country and the region at large, “Star Times Marketing Director Aldrine Nsubuga noted at a function held at the company headquarters in Kampala.

According to Nsubuga, the level of organization, passion of fans and the rate at which the game is growing, they decided to partner with Falcons so as to render them moral and financial support and help them move to another level.

“In terms of transport facilities, salaries, bonuses, allowances and anything aimed at taking the team back to the team, all that will be covered as well as using the deal to go to schools and universities identify talents and then nurture them as we increase love and awareness for the game,” the Star Times Marketing Director noted.

Speaking at the function, Falcons Basketball Club chairman Friday Kagoro stressed the increasing rate at which the game is moving noting that his team is a transition to match the growing trends in the game.

“This is shown by the qualification of the national team; Silverbacks to the All Africa Basketball tournament and we shall therefore follow the same trend in a bid to restore our past glory and prosperity,” Kagoro noted.

In an interview with ChimpReports, the national basketball team captain and Falcons player Steven Omony explained that the team is on the right course which he said would lead them to championship in the forthcoming season.

“We are now looking at taking back Falcons to the top of basketball in the country and anything  within our means  be it sponsorship technically or financially, bringing back former players and recruiting new ones will be done to achieve this,” Omony explained.

According to the newly signed 3 year sponsorship deal, the top tier basketball club will now change name to Star Times Falcons.

Falcons Basketball Club’s hopes of winning the league were last season shattered when UCU Canons beat them 58-49 for the latter to proceed to the second round of the Pepsi FUBA Playoffs.

City Oilers last month edged Tiger Head Power 87-75 to claim the 2014 FUBA Airtel basketball league back to back  in men’s side.

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