SACCOs adopt a new Environmentally Savvy loan product- Supa Sigiri

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Over 100 Savings and Credit Cooperative Organisations (SACCOs) within Kampala and Wakiso Districts have adopted a new loan product dubbed Supa Sigiri, which is an environmentally savvy improved cook stove that uses less charcoal, emits less smoke and cooks faster than ordinary sigiris.

The Supa Sigiri cook stoves which are an initiative of the Government of Uganda through the Uganda Clean Cooking Supply Chain Expansion Project were showcased to SACCO members during an exclusive Luncheon held at Hotel Africana on 30th August 2019.

Supa Sigiri Sales Representatives showcase various types of Supa Sigiri cook stoves during the Supa Sigiri Savings and Credit Cooperative Organisations (SACCOs) Luncheon held at Hotel Africana on 30th August 2019

Speaking during the SACCO Luncheon, Robert SemakulaDistribution Consultant for Dreamline Consortium in charge of Supa Sigiri’s awareness campaign explained that beyond just collecting savings, SACCOs need to be of better use to their members by sharing tips that help members grow financially.

He said, Using Supa Sigiri improved cook stoves is an example of how SACCO members can save and develop financially because the cook stove uses less charcoal than ordinary sigirismeaning that SACCO members will be able to save 50% in home charcoal expenses. Members of SACCOs can pay for the Supa Sigiri cook stoves in instalments using loans provided by their SACCO.

Supa Sigiri Sales Representatives demonstrate to a SACCO member how the Supa Sigiri Potential Energy cook stove works during the Supa Sigiri Savings and Credit Cooperative Organisations (SACCOs) Luncheon held at Hotel Africana on 30th August 2019

Along with introducing the Supa Sigiri cook stoves at the Luncheon, attendees attained financial tips from renowned financial expert Sam Sejjaaka – Professor; MAT Abacus Business School.

He advised SACCO leaders to offer members loans based on their character rather than their security. He also called on SACCOs to offer finance literacy courses to their members that would help keep them financially secure even during retirement.

Semakula concluded the Luncheon by thanking members for attending, he explained that although the cookstove can be obtained on an individual basis with cash, people are encouraged to buy the cookstove through their SACCOS such that members are able to leverage on their membership to obtain the cookstove on credit. As well, SACCOs would benefit through interest on the loans to members as per their internal rules.

Present SACCO also signed commitment forms with the Supa Sigiri team thereby inviting them to come showcase and share in detail the benefits of using Supa Sigiris at their respective workplaces.

The Supa Sigiri cookstove comes in 7 brand options namely Ugastove, Potential Energy, Envirofit, Ecozoom, Jikokoa, Bold and the Biolite, with prices ranging from 17,000 Ushs to 200,000 Ushs only.

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