Saccos to Bring Economic Transformation.

Byline: Joshua Kato

SINCE Prosperity for All (PFA) was launched about three years ago, over 628 Savings Credit and Cooperative Organisations (SACCOs) have been set up across the country, which indicates an over 60% success rate.

The Government has given out sh58.7b. As at February 2010 these funds have gone to 623 SACCOs, 32 microfinance institutions, 11 cooperative unions and 10 small and medium enterprises, among others.

Prosperity for All is implemented under the guidance of the President, but supervised and coordinated by the Office of the Vice-President.

While the PFA coordination unit falls under the office of the VP, the Rural Financial Services Strategy/Rural Financial Services Programme falls under the portfolio of the Minister of State for Micro-finance. "The major aim is to reduce poverty levels in the country," says state minister of for microfinance Ruth Nankabirwa.

PFA has four components; production and productivity, value addition and marketing, …