KAMPALA – The Ministry of Finance, Planning and Economic Development has launched the Presidential initiative on wealth and job creation ( Emyooga ) program in the greater Ankole sub-region aimed at promoting saving culture and eradicating poverty.
This event took place on July 02, 2020 at Kamukuzi district Council hall and targeted participants from two districts of Isingiro and Mbarara, mainly the Resident District Commissioners, District Chairpersons, Chief Administrative Officers, Councillors, Commercial Officers, Community Development Officers and the selected enterprise representatives.
While addressing the participants at the launch, Minister of state for Micro Finance Hon. Haruna Kyeyune Kasolo emphasized the need to work on mindset change of leaders and the population they lead if they are to register success in government-funded programs aimed at fighting and eliminating poverty. He added that the presidential initiative on wealth and job creation (Emyooga) program focuses on fighting poverty hence should not be politicized. He said that the aim of Emyooga is not to give the SACCOs money but to organize them and give them start-up capital.
Under this presidential initiative18 enterprises are going to benefit and these are: Boda boda, Women entrepreneurs, Welders, Taxi operators, Fishermen, Restaurant operators, Mechanics, Veterans, Produce dealers, Market vendors, Tailors, Persons with disabilities (PWD’s), Youth leaders, Salons, Performing artists, Journalists and elected leaders.
The above enterprises are to register at parish level and form associations. The registered associations are then forwarded to the constituency for the formation of respective SACCOS through which members will access the funds.
One of the pillars of the Emyooga initiative is saving by the enterprise SACCO members, whereby the saving frequency can be determined by the members but monthly being the maximum period.
Every member at parish level will have to pay a membership fee of Shs.10,000.
All associations formed at parish level will be registered free of charge at district level and the SACCOs registration at constituency level will be handled by the Ministry of Finance, Planning and Economic Development.
Under the Emyooga initiative each constituency willl receive Shs. 560 million and each qualifying enterprise SACCO will reach Shs. 30 million.
This presidential initiative is going to be headed by RDC’s working together with District Chairpersons Chief Administrative Officers, Commercial Officers, Community Development Officers and local leaders to implement this program.
Identification and mobilization of the enterprises through various channels has already started.