The Bishop of West Ankole Diocese Rt Rev Johnson Twinomujuni has said many financial institutions in southwestern region are struggling financially due to dishonesty, lack of trustworthy and incompetence of the employees.
Speaking at the grand promotion for shares in the diocese founded Jubilee Sacco, Bishop Twinomujuni also challenged the clergy to embark on saving rather than depending on the little salaries they earn. He said this will help them not to suffer after retirement.
Bishop Twinomujuni implored bankers and Christians to exhibit high level of integrity whenever they are dealing with money and develop a saving culture for the benefit of their future.
Many financial institutions including Sacco’s have been started in western region but few of them have survived beyond a couple of years.
Many have collapsed due a number of reasons including connivance among the top management and employees, huge number of debtors and little knowledge on how to run the business.
Dishonesty and incompetence amongst the leaders have also emerged as the biggest contributing factors towards the decline of these financial institutions.
According to Nahwera Godwin the manager Jubilee Sacco, the saving culture is still low as majority tend to go for borrowing.
Currently, the diocese is doing whatever it takes to attract the members including the clergy to adapt to the saving system and to love their bank.
And in this regard, best savers and big shareholders are awarded with money in terms of dividends, cows, boda bodas as a way of enticing others to come on board.