Vyper Ranking Rejects UNMF SACCO, Says It Adds No Value
Ugandan dancehall and reggae artiste Vyper Ranking has taken a swipe at the Uganda National Musicians Federation (UNMF), revealing why he chose to walk away from the body.
At the center of his exit is the federation’s SACCO, a system meant to help artistes access loans and grow financially.
But for Vyper Ranking, the model misses the mark.
While on Rewind, he said the requirement to save before borrowing shuts out artistes who are trying to start from scratch and have nothing to save.
The idea of the SACCO is good, but it sidelines some people, especially musicians who cannot earn enough to save. Some artistes need start up capital from zero, yet they have nothing to save, so how are you going to help them?
He also pointed out that even established artistes may find the system limiting, as the available loan amounts may not match their needs.
Personally, even if you give me 10 million, that is still little money considering my brand and what I need. If I have to first save 5 million to borrow 10 million, then that does not work for me.
Because of that, Vyper Ranking sees no value in the system and chooses to walk away.
In that case, the federation will not have helped me. There is nothing I see that it adds to me. Nothing at all.
