finance 2 September 2026 Nile Post
Accountants Tasked to Drive Wealth Creation Through Affordable Finance
Accountants in Uganda are being urged to leverage their influence to promote affordable financing and wealth creation by actively supporting Savings and Credit Cooperative Organisations (Saccos) and similar financial groups. This call to action aims to enhance socio-economic transformation at the grassroots level. Source: https://nilepost.co.ug/news/368575/accountants-urged-to-champion-affordable-finance-and-wealth-creation
The Microfinance Support Centre (MSC) has called upon accountants to play a pivotal role in Uganda’s socio-economic development. Speaking at the 31st Annual Seminar of the Institute of Certified Public Accountants of Uganda (ICPAU), MSC’s Communications Manager, Tadeo Atuhura, emphasized the potential for accountants to mobilize communities towards accessing affordable credit through Saccos and microfinance institutions.
Atuhura highlighted that accountants, with their extensive professional networks, are uniquely positioned to guide Ugandans towards these financial avenues. The MSC, a government agency operating for 25 years, focuses on empowering economically active poor Ugandans through capacity building, skills development, and the provision of affordable credit at an 8% annual interest rate. However, MSC extends its support to Saccos, groups, and microfinance institutions rather than directly to individuals.
“Our biggest target is every active Ugandan, every active poor Ugandan should be able to have affordable credit, and then they should be in the Sacco, and then create wealth. Everyone must be into the money economy,” Atuhura stated. He stressed that wealth creation begins with small enterprises, encouraging activities like poultry and piggery that can generate daily income and foster self-employment.
The seminar, themed “Transforming Institutions and Lives for Sustainable Growth,” also saw ICPAU President CPA Timothy Ediomu challenge accountants to adapt to a changing business landscape by embracing technology and strategic decision-making. Finance Minister Henry Musasizi echoed these sentiments, urging professionals to uphold fiscal discipline, accountability, and evidence-based decision-making to ensure efficient management of public resources and meaningful development outcomes.
This three-day event in Entebbe brought together approximately 2,000 accounting professionals to discuss pertinent issues and foster professional engagement, with a strong emphasis on transforming institutions and lives for sustainable growth.
Source: Nile Post