"Uganda will suffer the day Museveni leaves power" says minister Kasolo

The State Minister for Microfinance Haruna Kasolo has said Uganda will suffer huge consequences if President Museveni leaves power soon.

Speaking during the rebranding ceremony for the Microfinance Support Centre at Sheraton Hotel Kampala on Friday evening, Kasolo equated Museveni’s exit to that of Alex Ferguson, a former successful manager of Manchester United, a big English club.

"Ask Manchester United supporters who always wanted Ferguson to leave their team. They always said he was old and one day he resigned. The following day every small team could beat Manchester United," Kasolo said.

“We will suffer when Museveni leaves power but I don’t want to see that scenario happen to my country.”

Kasolo, who is also the MP for Kyotera in Rakai said.

He said that good leaders should always be preserved.

“Good leaders are scarce and if you manage to find them, you should maintain them.”

Kasolo said many Ugandans spend a lot of time talking politics which he said does not benefit them instead of working.

He wondered: “When you talk about ‘togikwatako’ who pays you? For me when I talk about politics I get paid .You should always concentrate on doing things where you get returns other than politics in which you don’t benefit.”

President Museveni has been in power for the last 31 years.

Kasolo said that in a bid to ensure that Ugandans can borrow money at lower rates, government is soon finalising efforts to recapitalise the Microfinance Support Centre.

He said this will help reduce the interest rate on borrowing so as to benefit many people who always been getting loans from commercial banks with high interest rates.

“By recapitalising the Microfinance Support Centre, Ugandans who have been getting loans from banks and other financial institutions will abandon them. This will force them (banks) to reduce on their interest rate because they will be losing customers,” he said.

The minister told Ugandans to adopt the culture of saving adding that if people don’t save, they will never develop.

“If we don’t save, we will hate all regimes. The burden is upon us to always see that we save the little we get,” he said.

Incorporated in 2001 as a company limited by guarantee, the Microfinance Support Centre is as part of government’s effort to promote access to affordable financial services for increased employment and wealth.

The Microfinance Support Centre is under direct supervision of the Ministry of Finance and Economic Development. It extends credit to Microfinance institutions including Saccos which in turn lend to their individual members.

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