Embrace saving culture, Tayebwa!

The Deputy Speaker of Parliament of Uganda, the Rt Hon Thomas Tayebwa has called on Members of Parliament to embrace saving culture if they are to achieve economic independence.

Tayebwa made the remarks on Friday 10th November 2023 when he was officiating as a Chief Guest at the Annual General meeting of the Parliamentary SACCO at Parliament of Uganda.

Tayebwa who is also a member of the SACCO said that although MPs have many Constituency demands, it’s important for them to save some money in the SACCO which can help them in the time of need.

He also advised that the SACCO should start planning to transition into a bank since it has grown it’s financial base.

Deputy Speaker taking a photo with the SACCO Executive

During the meeting, the general meeting also approved calling off of debts worth over 400m that were owned to legislators who died before servicing these loans. Among the fallen legislators who had unserviced loans included the former Speaker of Parliament Jacob Oulanyah who had a debt of 294 millon shs, the former Serede MP Patrick Okabe who was owed 123 Millon and Rehema Watongola who had a debt of 3 million.

Parliamentary SACCO is a savings and credit cooperative organisation comprised of Members of Parliament and former Members of Parliament as well as Parliamentary staff.