Soroti City West Journalists SACCO struggles to recover Emyooga funds
SOROTI CITY, December 18, 2024 – The Soroti City West Journalists Savings and Credit Cooperative Organization [SACCO] has struggled to recover funds disbursed to beneficiaries under the Emyooga programme.
In 2021, the SACCO registered five associations and was allocated Shs 30 million. Across Soroti City’s East and West divisions, 36 SACCOs were formed as part of the programme.
Launched in 2019, Emyooga was designed to create jobs and improve household incomes for Ugandans from various sectors, including journalists, boda boda riders, drivers, and artists, among others. The program is a revolving fund with a six-month repayment period.
During the SACCO’s annual general meeting [AGM] yesterday, the City Commercial Officer, George William Tukei, expressed his disappointment with the journalists for failing to take their loan repayments seriously.
Tukei revealed that only Shs 820,000 had been recovered out of the Shs 30mln allocated to the journalists’ SACCO. He also noted that out of the 36 SACCOs in Soroti City, only 14 had successfully accessed an additional Shs 20mln in funding.
“Some of you seem to think this money doesn’t need to be repaid. However, it is a revolving fund, and others need to benefit from it,” said Tukei. He urged the journalists to change their mindset for the betterment of their livelihoods.
Tukei encouraged the journalists to begin repaying the loans and advised them to reach out to the SACCO Chairman, George Muron, if they encountered any challenges.
Muron, in turn, explained that the Soroti District Journalists Association had repaid Shs 820,000 out of the total loan, while the other associations had not shown the same level of commitment. “The Soroti District Journalists Association is the only group that has repaid, while others are not cooperating,” he said, urging fellow journalists to honor their obligations.
Lydia Arecho, one of the members, accused the SACCO leadership of lacking cooperation, which she claimed had caused disorganization among the members. She further stated that leaders should set a good example to encourage members to take the loan repayments seriously.
The AGM, which saw the participation of several Soroti West journalists, continues to highlight the ongoing challenge of recovering funds in the region’s SACCOs.
https://thecooperator.news/soroti-pdm-beneficiaries-given-tips-on-wealth-creation/
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