emmanuel tumusiime - mutebile : fast tracking east african community monetary union opening address by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the monetary affairs committee meeting on fast tracking east african community monetary union to 2012, kampala, 23 january 2008. * * * ambassador juma mwapachu, the secretary general of the east african community, fellow governors from the central banks of the eac partner states, ladies and gentlemen good morning! let me start by welcoming you all to uganda " gifted by nature " and to kampala, our lovely capital, the city of undulating hills and the host city for this extra - ordinary meeting of the monetary affairs committee ( mac ) of the fast tracking of the east african community ( eac ). let me at the outset recognize the presence in our midst of ambassador juma mwapachu, the secretary general of the east african community. allow me also to congratulate professor benno ndulu upon his very recent elevation to the post of governor of the bank of tanzania by his excellency jakaya kikwete the president of the united republic of tanzania ; and to congratulate mr. gaspard sindayigaya, upon his appointment as governor of the bank of the republic of burundi by h. e. s. e. pierre nkurunziza the president of the republic of burundi. i join my fellow governors of the central bank of kenya and the national bank of rwanda in welcoming you, the honourable ndulu and the honourable sindayigaya, to the monetary affairs committee of the east african community. we look forward to learning from your wisdom and profiting from your able leadership at this very important juncture in the process of economic integration of the east african region. ladies and gentlemen, article 5 ( 2 ) of the eac treaty, article 5 ( 2 ) stipulates that ".... the partner states undertake to establish among themselves and in accordance with the provisions of this treaty, a customs union, a common market, subsequently a monetary union and ultimately a political federation in order to strengthen and regulate the industrial, commercial, infrastructural, cultural, social, political and other relations of the partner states to the end that there shall be accelerated, harmonious and balanced development and sustained expansion of economic activities, the benefit of which shall be equitably shared.... " furthermore, the 6th extra

emmanuel tumusiime - mutebile : promoting financial independence in uganda speech by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the official opening of uganda finance trust ltd. head office at katwe and unveiling of a new corporate identity, katwe, 30 january 2008. * * * the chairman and board of directors uganda finance trust mdi ltd, the management and staff of uganda finance trust mdi ltd, invited guests, ladies and gentlemen i would like to thank uganda finance trust for inviting me to this auspicious occasion of launching the new head office, and main branch, and the unveiling of the new corporate identity of uganda finance trust ltd. i congratulate the board, management, and staff of uganda finance trust on these achievements. today's event is truly significant in the history of uganda finance trust as an institution and as a strong player in the microfinance industry. having been the pioneer microfinance institution which was started by a group of professional women in 1984, uganda finance trust is living up to its mission of “ promoting financial independence ” by providing unique financial services to low income people in uganda hence empowering them to be independent financially. the then uganda women finance trust, started as an ngo in 1984 offering microfinance business to its customers when the savings capacity of the poor was still doubted. of course in some other developing countries, it had already been proved that the poor can save and invest. uganda women finance trust focused mainly on low income households and the small scale entrepreneurs, who were least likely to receive the attention of formal financial service providers. when it became clear that the poor, even in uganda can save, more microfinance institutions emerged, but uganda women finance trust remained outstanding for its focus on reaching poor women, both in the rural and urban areas. the uganda women finance trust opened a number of branches countrywide, gaining national recognition as well as outreach and experience. in october 2004, uganda women finance trust was transformed from an ngo limited by guarantee, to uganda finance trust ( mdi ) limited, a company limited by shares. then the company obtained a licence as a microfinance deposit - taking institution in october 2005 and it became the fourth licensed mdi in the country. this not only led to uganda finance trust redesigning its operations but also it set the stage for the company to pursue financial sustainability. i am glad that the achievements so far made by uganda finance trust