Covid pushes more Saccos to go digital

By Gardy Chacha 

 Due to job losses and loss of income, as well as reduced economic activity, 98.9 per cent of Sacco members either decreased or stopped contributions altogether. “The pandemic created a crisis that was so sudden - causing widespread disruption,” said Prof Nyamongo, CUK Deputy Vice-Chancellor in charge of Cooperative Development, Research and Innovation.

“Economic effects of Covid-19 have been reflected in the dramatic increase in unemployment and in

extreme poverty which has risen for the first time in 22 years.” The event was attended by University Education Principal Secretary Simon Nabukhwesi.

The team focussed their study on Saccos in the aviation, horticulture, and hospitality sectors, “as these were disproportionately affected due to cessation of air travel, [Gardy Chacha]