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Farmers and co-operators advise government on Co-operative banks


Farmers and co-operators in Uganda are advising government to use the current co-operative banks run by farmers to replace the fallen Co-op bank saying to resurrect the fallen one will instead drag the whole system and operations back, rendering no service to the beneficiaries.

The CEO Uganda Central Co-operatives Financial Services, Patrick Bakunda, noted that currently farmers are operating their own co-operatives without government assistance adding that this is a good sign that if government entrusts them with the mandate to run the co-operative bank then farmers will directly and expeditiously benefit than reviving the already fallen bank.

Patrick also confirms that the Trade and Co-ops ministry is discussing the matters of reviving the bank with the matter at ministerial level awaiting nationwide consultations on how the bank will operate in case it is given a green light.

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