National Cooperative Symposium - Gov’t nears final approval for cooperative bank establishment

The government is nearing the final stages of approving the establishment of a cooperative bank in the country. The Minister of State for Trade, General Wilson Mbasu Mbadi, revealed that the necessary documents have been forwarded to the cabinet for consideration. A 14-member committee has been also formed to analyze these documents before they are sent back to the cabinet for final approval.
This announcement was made during the National Cooperatives Symposium, organized by the Uganda Federation of Maul Geumgo Community Credit Cooperatives in Masaka City.
The Minister of State for Cooperatives, alongside global economists including Professor Ezra Suruma and Dr. Sifa Chiyoge, emphasized that cooperatives are a vital tool for achieving economic sustainability in Africa.