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Uganda : FINANCE MINISTRY pays $2 MILLION to UGANDA Sacco.

Recently in Uganda, the finance ministry has payed $2 million (Ush 5 billion) which is part of the $10 million presidential pledge towards the teachers savings and credit co-operative society.

Under the umbrella body Uganda National Association of Teachers' Union (UNATU), the teachers had threatened to strike unless the government paid up.

James Tweheyo, the UNATU general secretary said, We want the government to pay us our money.

We had released the Ush5b being released every Financial Year starting with FY 2013/14, said Dr. Rose Nassali Lukwago the Ministry of Education and Sports Permanent Secretary, In view of the fact that the Presidential Pledge is for all teachers, the Ministry sought guidance on how best to manage this resource. Ministry of Finance, Planning and Economic Development together with the Solicitor General advised that a Fund Manager should be procured according to the PPDA Act and regulations.

Solicitation of bids had started last month and hope by the end of April, they will conclude the bid evaluation for procurement of a Fund Manager, she added.

Dr Nassali said, The Fund Manager will issue guidelines on how the teachers SACCO's country wide will access its funds in a transparent manner in accordance with the financial guidelines from Ministry of Finance, Planning and Economic Development.

The Solicitor General is supporting the Ministry to form contract with the selected Fund Manager.

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Publication:Mena Report
Geographic Code:6UGAN
Date:Apr 8, 2014
Words:241
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