KAMPALA – The Ministry of Microfinance on Friday launched the presidential initiative dubbed ‘Emyooga’ in Kigezi sub region.
State Minister for Microfinance Haruna Kasolo launched the programme at Kabale District Hall, revealing that under the programme, government gives out credit of Shs30m to each enterprise to promote growth.
“My ministry is ready to give Shs30M= as a boost to any registered savings group of a particular specialty. For now we are beginning with 18-savings groups per district and once they succeed other groups shall be formed to benefit under the same arrangement. For the group to benefit it must be registered by the district community development officer and verified by the Resident District Commissioner and have a bank account number reflecting its usual savings,” Mr Kasolo said.
He asked politicians to stop telling their voters to just form groups to get money from government but rather educate them on promoting a savings culture for poverty eradication.
“Its only those registered community enterprises that have an active bank statement reflecting their routine savings that shall benefit from this money. The money shall also boost community enterprises that were affected by the covid 19 national lock down, ” he added.
The community enterprises scheduled to benefit from the fund include, boda boda sacco, Women entrepreneurs Sacco, Carpenters sacco, Salon operators sacco, Taxi operators sacco, Restaurant owners sacco, welders sacco, Market vendors sacco, youth leaders sacco, persons with disabilities sacco, produce dealers sacco, mechanics sacco, tailors sacco, Journalists sacco, performing artists sacco, veteran (veteran window and children sacco, Fishermen sacco.
Mr Kyenune Kasolo added that supporting community enterprise groups shall not affect the existing saccos because the two need each other to spur community development.
Minister Kasolo also launched the similar programme in the districts of Kabale, Kisoro, Rukiga , Rukungiri, Kanungu and Rubanda arguing that people should change their negative thoughts to prosperity.
Kabale district chairman Patrick Besigye Keihwa asked the targeted beneficiaries to fulfill all the requirements so that they can get the government funds to boost their community enterprises.
“This government program is not political. It is none sectarian. It is all about economic empowerment for all Ugandans organized in community groups of their specialties. Please embrace it for your economic growth and poverty eradication,” Mr Keihwa said.