Museveni Wants Taxes On SACCOs Reviewed

more about geneva; font-size: small; line-height: 200%;”>The President noted that failure to effect the no bail call was fueling high level of crime in the country.

The President was responding to security concerns raised by Bushenyi district LC5 Chairman, Mr. Willis Bashaasha, at the ceremony to launch Youth and Women Loan products after the opening of the new financial block premises for Kyamuhunga People’s Cooperative Saving and Credit Society Ltd (KYAPS).

The ceremony took place Thursday at Butare town Board, Kyamuhunga sub-county, Igara West constituency.

Mr. Bashaasha said that in the recent past, some people had been murdered in Bushenyi district.

He said that it was a source of great concern because those who had been implicated in the murders were quickly released on bail but were re-arrested for the same offence.


“I have suggested before that murder suspects should not get bail but the proposal was frustrated by Parliament,” the President responded to Mr. Bashaasha’s request for him to intervene.

The President, however, said Government would do whatever it takes to prevent crime in the country.

“We defeated fascist regimes that used guns against people, how about those using pangas? We shall defeat them,” the President said.

He instructed the Police and other security agencies to do enough community policing and carry out social intelligence.

He also advised parents to guide and bring up their children with right values of life and inspire the fear of God. He also urged the community to report individuals suspected to be involved in wrongdoing.


Speaking specifically on the activities of the credit co-operative society whose premises he had commissioned, the President commended the SACCO’s growth in financial resources and membership to over 14,000 people.

He said their achievement was highly commendable and deserved Government support.

He pledged Shs. 336 million for the required technological support to KYAPS and Shs. 100 million for procurement of transport for the society. He promised Government support to ensure further growth of the co-operative society.

He, at this juncture, announced that Government was set to review and possibly remove taxes on SACCOS as the practice could hamper the saving culture in the country.

The President thanked Fr. Tomaino Paulino, a Comboni Missionary, for his foresightedness.He also commended Fr. Felix Tumuheise, for being a good and foresighted leader for realising that there are other human needs apart from spirituality.

Regarding the quest for cheaper loans by the SACCO, the President said Government had made money available at an interest rate of 12 percent per annum. He directed the Ministry of Trade, Industry and Cooperatives to avail Ugandans information on how to access the money and actually avail the funds.

The President used the occasion to caution Ugandans against HIV/AIDS. He advised the youth that although ARVs were available and prolonged one’s life, they were not a cure to HIV/AIDS. He called on the youth to use their prime youthful age valuably and productively.

The Chairman Board of Directors for Kyamuhunga People’s Co-operative Savings and Credit Society, Fr. Felix Tumuheise, reported that the society was run in accordance with Government’s vision on co-operatives which are creation of household wealth, creation of employment and poverty eradication.

He said the society had inspired members to adopt a saving culture, entrepreneurship skills and financial discipline.

Minister of Trade, Industry and Cooperatives, Hon. Amelia Kyambadde, and Hon. Mary Karooro Okurut, Minister for Gender, were present.

At the close of the ceremony, the President held a brief meeting with veterans.

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