Uganda Prisons Service (UPS) has launched a sensitization and empowerment program aimed at enhancing financial literacy and economic growth among its staff through Savings and Credit Cooperative Organizations (SACCOs).
During the SACCO launch in the Kooki region in Rakai district on August 13, 2024, David Okiring, the Principal Rehabilitation and Reintegration Officer and Vice Chairperson of the Prisons SACCO board, highlighted the initiative’s goal of fostering a saving culture, offering affordable loans, and supporting government programs such as the Duty Free Shop service.
According to Okiring, the Prisons SACCO offers a range of financial products, including savings products, regular savings accounts, time or fixed deposit accounts, target savings accounts (for instance for children’s fees, retirement, and asset acquisition), loan and credit products, personal loans, business loans, building and construction loans, agricultural loans, and emergency loans for Kooki Prisons staff.
“In addition to these financial products, the program will also provide training on the operations of the Mobile SACCO (MSACCO) and its benefits to staff. The MSACCO will enable easy access to financial services, promoting convenience and financial inclusion,” Okiring stated.
Okiring said that the program is set to empower Uganda Prisons staff to achieve personal economic empowerment, enhance financial literacy, and improve their quality of life, ultimately contributing to economic stability and community development.
He emphasized the importance of educating staff about the benefits and operations of SACCOs.
The Senior Superintendent of Prisons and RPC of Kooki, Charles Rugasira, stressed that the SACCO sensitization campaign is not merely about saving money but also about creating opportunities for financial growth and stability, encouraging all staff to actively engage in the initiative to enhance their financial wellbeing.
Martin Opira, the Prisons SACCO accountant, provided an overview of the products and services tailored to meet the diverse needs of the staff, underscoring the significance of financial literacy and responsible borrowing practices.
This program is set to benefit staff from 20 prisons in the Kooki Region, including Rakai, Kabula, Kayanja, Lwamagwa, Kacheera, Mutukungula, Kaliisizo, Kabira, Kakuuto, and Kassali. The initiative aims to empower prison staff financially, promoting a culture of savings and responsible financial management.
