Local Music Promoters Bajjo and Abitex Form SACCO

Local Music Promoters Form SACCO

Posted by: Andre Reagan in Entertainment October 29, 2021

A number of local music promoters have decided to form their own SACCO to further their interests as a group. They launched this SACCO yesterday at Kampala Sheraton Hotel.

The event saw attendance from a number of personalities from both the government and the promoters.

Some notable figures included Sheik Ndirangwa, Pastor Jessica Kayanja, Pastor Wilson Bugembe, Balaam, Bajjo amongst others.

This cooperative is expected to act as an investment tool for these promoters. It will also be open to the public. Bajjo revealed they will put up shares for sale.

Bajjo also added that the main motive of this SACCO is to develop themselves and not resort to begging like musicians.

“This SACCO has no politics in it because almost all people from different political spheres have been here. The main reason for this SACCO is to prosper ourselves and not become beggars like the musicians who went to Gulu. The government can and will assist us where necessary.”

“There will be shares for the public to buy with the lowest going for 50,000 shillings. Those who want to borrow will have to open up an account in the cooperative where we shall base on to assist them,” Bajjo said.

He also added that they already have over 350 million shillings on their account within a day of formation.

Balaam on the other hand pledged to support the cooperative with Ugx 10m shillings. He added that if they don’t swindle it, he will gift it another Ugx 10 million shillings.

This cooperative has however been touted as another plot to con the government lots of money. The government gave the same promoters billions of shillings as COVID-19 stimulus package a while back.

The distribution however left the majority cursing as it was only the ‘big dogs’ that got Lion’s share.

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