APAC – At least 34 out of the 50 registered Emyooga SACCOs in Apac Municipality and Apac district are doing exceptionally well, officials say.
Launched in 2019, Emyooga is a presidential initiative on wealth and job creation which was launched by President Museveni in August 2019 as part of the government’s continuous strategies to transform 68 percent of Ugandan homesteads from subsistence to market-oriented production.
The initiative targets 18 specialised enterprises namely; Boda Boda riders, women entrepreneurs, carpenters, salon operators, taxi operators, restaurant owners, welders, market vendors, youth leaders, persons with disabilities [PWDs], produce dealers, mechanics, tailors, journalists, performing artists, veterans, fishermen and elected leaders.
In 2021, Apac Municipality and Apac district, received Shs1.5 billion for 50 Emyooga SACCOs with each SACCO receiving the seed capital of Shs 30mln from Microfinance Support Centre [MSC].
James Ebony Oyuru, Apac district commercial officer says out of the 50 Emyooga SACCOs in Apac Municipality, Maruzi North and Maruzi South counties in Apac district, 34 SACCOs which represents 68 percent are doing exceptionally well except the 16 SACCOs [32 percent] struggling.
‘Generally, Emyooga in Apac is not doing badly. Out of the 50 Emyooga SACCOs, the loan portfolio for each of the 34 SACCOs is over Shs 100 million because members have borrowed money more than five times since the inception of the programme,” he said.
‘Some of the Emyooga SACCOs doing exceptionally well include Apac Municipal Veterans Emyooga SACCO, Maruzi South Market Vendors Emyooga SACCO, Maruzi North Carpenters Emyooga SACCO and Maruzi South Tailors’ Emyooga SACCO among others,” he added.
Beneficiaries tell testimonies of growth
Patrick Otile, a member of Maruzi South Saloon Operators’ Emyooga SACCO borrowed Shs 1.8mln and invested in a salon business.
“I have employed five youth who had no work and within a short time I will expand this business. The money I get from this salon has helped me to diversify to a piggery project, feed my family and pay school fees for my children,’ he said.
Caroline Angwec, a member of Apac Municipal Veterans Emyooga SACCO, a widow and a mother of six borrowed Shs 7mln from the SACCO and ventured into produce and opened up a retail shop.
He says: ‘‘At the beginning, many people thought the money for Emyooga was a token of appreciation from President Museveni since the programme was launched during the period for elections. However, to me, this was an opportunity to get out of poverty and transform my life.”
Angwec says she has built a bigger residential house compared to the grass-thatched unit he was previously living in with his family.
Alfred Otim Bilal, the chairperson Apac Municipal Veterans Emyooga SACCO attributes the success of the programme to sufficient financial literacy training, regular meetings and peaceful approach used while collecting loans from members.
“Imagine, out of Shs 92 million loan disbursed to our members, we have so far recovered Shs 70mln and members are borrowing money from time to time putting our loan portfolio to Shs150mln this is because we trained our members on how to handle money,” he said.
Political leaders vowed to change
The previous reports obtained from Apac district and Apac Municipal commercial offices put politicians in the two local governments on top of defaulters of Emyooga funds.
The leaders have been widely accused of mishandling the money, saying it was a political gift from the president, although critics say it is a failure to lead by example.
However, George Abudul, Apac resident district commissioner says the trend is changing.
“You know political leaders are a little bit stubborn. They said the president [Museveni] had greeted them with this money but now they have come to a realisation. They have agreed to have their SACCO audited so that they can call for the annual general meeting, have new leadership and then the collection continues,” he said.
https://thecooperator.news/emyooga-apac-struggling-to-recover-shs-50mln-from-politicians/
Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news
Views: 0
