Minister Kasolo asks Microfinance support Centre to become visible to catch Museveni’s eye

The State Minister for Microfinance Haruna Kasolo has asked the new board of the Microfinance Support Centre(MSC) to make it visible so as not to jump the eye of President Museveni.

Speaking at the function to inaugurate the new board, Kasolo said that MSC might have achieved a lot in the past few years but said this does not matter if they are not visible enough to catch the eye of the president.

“The president is very busy but if you are not visible on the ground, you will not catch the eye of the big man. Make yourself visible,”Kasolo said on Wednesday at the MSC headquarters in Nakasero.

“If you don’t appear in papers, then you are not working and the big man will forget about you.”

The state minister reminded the new board that Microfinance Support Centre was put in place to help the poor who are the majority access credit at lower interests adding that it is high time they put in place a special program for Kampala and Wakiso areas.

You have achieved a lot upcountry but we need a special program for Kampala and Wakiso so that the poor in those areas can be assisted and in turn they help canvass for votes for President Museveni.

“These people(in Kampala and Wakiso) don’t support government because they think its policies have made them poor and would vote for other people they think will make them rich. We need to give them credit so they can start businesses and in turn support this government,”Kasolo said.

Kasolo revealed that government is set to re-capitalize the Microfinance Support Centre with an initial amount of Shs50 billion to make it easy and possible for the majority Ugandans access credit.

The outgoing chairperson of the board Justine Bagyenda said that the loanable money for the Microfinance Support Centre has accumulated from Shs34 billion in 2011 to more than shs60 billion by 2017.

The incoming board chairperson Dr.Kisamba Mugerwa however urged the public to always borrow money and use it for useful ventures that would make them profits and later pay back.

The minister however assured them that the risk of non -recovery of loans will cease to be a big problem following the introduction of the Uganda Microfinance Regulatory Authority.

The Microfinance Support Centre was incorporated by government in 2001 under the Ministry of Finance to fulfil the need for affordable credits in Uganda.

It extends its mandate through Saccos and Cooperative societies.