UPC Urges Govt to Expedite Revival of Cooperatives

UPC Spokesperson, Michael Osinde addressing the press on Wednesday

Uganda Peoples’ Congress (UPC) Spokesperson, Michael Osinde Orachi has applauded government for the steps being taken to revive Cooperative Unions in the country.

Speaking to SoftPower News, Osinde said that the willingness that has been exhibited by government through the Ministry of Trade and Cooperative is a positive move and a recognition of the UPC efforts for decades.

Government recently ordered Bank of Uganda to share the liquidation and audit reports which led to the closure of Cooperative Bank and Uganda Commercial Bank (UCB).

The Ministry of Trade, Industry and Cooperatives has written to the authorities at Bank of Uganda to explain why they closed Cooperative Bank.

Government wants to know the reasons for the closure of the bank to assist the Trade Ministry and the shareholders understand what could have gone wrong which will help the process of reviving Cooperative Bank.

“This is in recognition of the efforts UPC who are the brains behind the cooperatives. We have been pushing for this for decades,” Osinde said.

Osinde has however urged government to reconsider the structure of the cooperative education model. In Uganda, the highest level of qualification is a Diploma yet in neighboring countries, this has been already revised, he said.

“In attempting to scale up skilling the youth, we would advise that scholarships are given in line with Cooperatives Education Movement as opposed to just giving them handouts,” Osinde noted.

The UPC spokesperson said that Cooperative Movements were of a great advantage as opposed to the current SACCOs that have only issued handouts to people without skilling the people prior.

The cooperatives were a biggest foreign revenue earner in the days of President Milton Obote as opposed to the current regime.

“We like to urge government that the cooperative movement was a very big booster to the economy and once revived there would be a lot of dividends.”

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