NEBBI. The King of Alur Kingdom His Highness Phillip Olarker Rauni III has launched Ker Alur (Alur Kingdom) development savings and credit cooperative organization (SACCO) in a bid to enhance the saving culture of his subjects.
While addressing members of the press during the launch of the SACCO at his Nebbi residence on Saturday, King Olarker said the Kingdom has the plan of improving the socio-economic and cultural life of its subjects, a reason they came up with the idea of starting the SACCO.
“We have embarked on a deliberate effort to improve the lives of our people through the Ker Alur development SACCO since the Kingdom has finalized her strategic plan in line with the UN sustainable development goals and the Uganda government vision 2040," the King said.
He added that Alur Kingdom is now moving towards prioritizing the issues of women, youths, the environment and poverty alleviation for sustainable growth.
Olarker stressed that poverty should be fought hard through commercially viable activities like agriculture, skills training for youths and by embracing the spirit of saving.
He said the Kingdom now has an indigenous SACCO for the subjects which will be run on strict cooperative business principles.
“I appeal to all stakeholders and my subjects and friends to embrace the SACCO, promote and join it as paid-up members so as to improve the culture of savings” he observed.
During the launch, the Alur Prime Minister, Mr. Vincent Ochaya noted that as Alur subjects, most of them are not finically okay, a state he said calls for mobilization for Alur Kingdom development SACCO to grow.
“We have been working on the formation of the SACCO since last year and we are glad that during the recent coronation anniversary at the palace, President Yoweri Museveni supported us with shs50m. Now with the savings we have, this has finally enabled us to launch the SACCO which is slated to take off in the next three months," he said.
He noted that the only better way for Alur people to fight the biting poverty in society is to save and get cheap loans from the SACCO.
Meanwhile, the chairperson of the Ker Alur development SACCO taskforce, Mr. Mike Anewa said with the introduction of the SACCO, the lives of the people in the Kingdom will greatly change.
“As the people of the Kingdom, we should work hard to develop this SACCO and also own it so as to end the vicious cycle of poverty," Anewa advised