Teachers in Universal Primary Education (UPE) and Universal Secondary Education (USE) schools in Entebbe Municipality breathed a sigh of relief on Wednesday after government under the Walimu Sacco Union; the overall Sacco for all teachers Saccos in Uganda officially handed over a dummy cheque of Shs150m for their Entebbe Municipal Teachers Sacco.
Speaking during the handover ceremony of the Shs150m dummy Cheque at Entebbe Municipal Council, Jackson Irumba the Entebbe Municipal Teachers Sacco Union Chairperson thanked the Walimu Sacco Union for their transparency and said that teachers have been yearning to get the funds so as to supplement on their small salaries by investing in several income generating projects.
Irumba disclosed that teachers are optimistic that remaining Shs350m balance to complete the Shs500m that was approved for the Entebbe Municipal Teachers Sacco will also be received.
The Sacco began last year in June with just 94 teachers and today we have 340 members. Our target is to have all the 416 teachers on the government payroll join the Sacco. We were given the loan at an interest rate of 8 percent and teachers will borrow at an interest rate of 15 percent. Teachers will borrow money not exceeding Shs9m and will be repayable in two years. This is a revolving fund and our goal is to ensure that all teachers benefit. We are hopeful that in the next three months we shall receive the remaining batch of Shs350m loan, Jackson Irumba stated.
Hon. Rose Sseninde, the State Minister for Primary Education and Wakiso Woman Member of Parliament who presided over the handover ceremony appealed to the teachers not to squander or misuse the money stressing that a lot of money that government has allocated to different Saccos has been misused with no income generating projects to show.
Minister Sseninde warned all schools to desist from focusing on passing exams adding that many children wake up early to go to school to do cram work which has greatly affected their health and mental stability.