The Buyaga West Member of Parliament Banabus Tinkasimire has unveiled plans to champion the establishment of a Cooperative Bank in Uganda.
Tinkasimire was speaking during the Mid-Western consultative meeting on the establishment of a National cooperative bank and capacity building of cooperatives in Fort portal today.
Tinkasimire emphasized the importance of a Cooperative Bank in fostering financial stability and supporting small-scale farmers, entrepreneurs, and cooperatives across the country.
He noted that such a bank would provide accessible and affordable financial services tailored to the needs of cooperatives and their members.
The Buyaga West member of parliament who also sits on the budget committee of Parliament says as the committee they will ask government to provide money to capitalize the bank.
Earlier alone, Asiimwe Ivan, the general secretary of Uganda Cooperative Alliance had asked the members to be strategic and streamline governance and policy among their specific cooperatives.
Asiimwe also called for a single regulator for all Saccos in the country saying this will enable them to operate smoothly while pushing for markets.
