Soroti City Emyooga beneficiaries trained in enterprise management
SOROTI CITY, February 12, 2025 – Leaders and other beneficiaries of the Emyooga Savings and Credit Cooperative Organisations [SACCOs] in Soroti City recently completed training in enterprise management, aimed at ensuring the sustainability of their businesses.
According to George William Tukei, the Soroti City Commercial Officer, the recovery of Emyooga funds in the city has been significantly lower than anticipated, hence the need for the training. “Currently, the Emyooga recovery rate stands at 42 percent across the 36 Emyooga SACCOs,” he stated.
Tukei made these remarks during a training session organised by Enterprise Uganda in collaboration with Soroti City, held at Widows Hall, Amen A, in Soroti City.
He revealed that only 14 out of the 36 SACCOs have received additional capital of Shs 20 million, owing to their good performance. Most Emyooga SACCOs initially received 30mln, with the exception of political leaders’ SACCOs, which received 50mln.
Tukei also acknowledged that many Emyooga beneficiaries had failed to succeed in their businesses, often due to mismanagement of the funds and not using the money for its intended purpose.
The official further pointed out that poor mindset and improper enterprise selection were significant challenges faced by many of the SACCO groups.
“Initially, Soroti City registered 1,009 Emyooga groups, but after we conducted the training, many withdrew, leaving only 641 active groups, as they realised it was not just free money,” Tukei explained.
George Oumo, the Director of Small and Medium Enterprises at Enterprise Uganda, shared that 65 percent of entrepreneurs in the country began their businesses after the age of 21. He emphasised that starting a business does not require a large capital investment, but rather careful planning and determination to succeed, even in the face of challenges.
He urged Emyooga Programme beneficiaries to shift their mindset, establish businesses, and work to multiply their funds to ensure long-term sustainability.
Florence Adupo, the Enterprise Uganda Regional Enterprise Officer for the Eastern Region, explained that the training provided the Emyooga beneficiaries with the necessary skills to ensure the longevity of their businesses. “We realised that some people misused the money, thinking it was a free gift from the government and therefore never invested it but spent it on consumption,” Adupo said.
Adupo reminded the beneficiaries that the Emyooga Programme funds are a revolving loan with an interest rate of only 8 percent, urging them to use the funds they receive for the intended purposes.
Best and word performing SACCOs revealed
Among the best-performing Emyooga SACCOs in Soroti City are the Fishermen SACCO, the Tailors SACCO, and the Women Entrepreneurs SACCO. On the other hand, the Musicians SACCO has been identified as one of the poorer performers.
Musa Oroma, the Assistant Resident City Commissioner for Soroti City West Division, called on Emyooga beneficiaries to become agents of change by borrowing and repaying loans, thus allowing others to access the funds.
Meanwhile, Baduru Ochengel, the Town Clerk of Soroti City West Division, concluded the training by reiterating that the Emyooga Programme is designed to combat poverty at the household level, encouraging residents to actively participate in the programme.
Ochengel also urged the leaders and managers of the Emyooga SACCOs and associations to maintain proper records to track progress, adding that the government is committed to their success.
Emyooga is a presidential initiative for wealth and job creation, launched in August 2019 by President Yoweri Museveni as part of the government’s broader strategy to transform 39 percent of households from subsistence to market-oriented production.
https://thecooperator.news/dokolo-emyooga-saccos-assured-of-additional-seed-capital/
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