ARUA-Successful Emyooga women’s enterprise groups in Arua City have pleaded with the government to consider them for the second funding phase, saying it will boost their businesses.
The women groups say that in the first phase where Shs 30 million was disbursed to Emyooga SACCOs countrywide, most of their beneficiaries got small loans that couldn’t meet all their business requirements, much as they are earning small profits.
To boost their earnings from the businesses established, the Emyoog women groups in Arua City groups want government through Microfinance Support Centre [MSC] to provide more Shs 20mln pledged for the successful Emyooga SACCOs.
Daisy Akwiya, one of the Emyooga beneficiaries in Arua City said she wanted to invest in a bigger project but was limited by small funds. “I added some money on the Shs 2mln I received from our Emyooga SACCO to buy a tricycle motorcycle for business. Much as I make Shs 180,000 weekly, I would be making better returns if I had succeeded in investing in my dream business,” Akwiya said.
Betty Nyokaru, another beneficiary also asked for additional funding claiming that what she received was too small to start her planned project. “I had planned to do cross-border business where I could buy groundnuts from D.R Congo and then sell in Uganda but what I received couldn’t help me to invest in that business. I only got Shs 120, 000 as a loan. This forced me to start a retail groundnut business instead of produce business,” Nyokaru said.
She added: “We are a group of more than 300 members. We found it very hard to share the Shs 30mln that was received from government. We need more funding to expand our projects.”
Loyce Asinduru, the Manager of Ayivu West Constituency Market Vendors’ Emyooga SACCO also argues that they found it hard to share the Shs 30mln received from government.
She says the Shs 30mln received from government couldn’t allow them to implement a joint project but was instead used to give loans to individual members. “We had planned to invest in joint projects, but unfortunately the Shs 30 million couldn’t support our plans. That is why we are only relying on a loan scheme to benefit all of us,” Asinduru said.
“For the last eight months, we have made profit of more than Shs 2mln from the loans we give out to members. Our capital is now Shs 32mln,” she added, noting that additional funding would help to boost their businesses.
However, the commercial officer of Arua city, Jobel Ayiko, has assured the women groups that most of them have been considered for the second phase of Emyooga funding.
He said government through MSC has tasked his office to identify successful Emyooga groups for the second phase of funding and that most of the groups selected are women groups.
He continued: “Groups like Arua Main Market Vendors’ Enyooga SACCO and Ayivu West Constituency Market Vendors’ Emyooga SACCO that are doing well and can’t miss to benefit from the next phase of Emyooga funding.”
The Emyooga presidential initiative on wealth and Job creation was launched in August 2019 targeting to transform 68 percent of homesteads from subsistence to market-oriented production with the overall objective of promoting job creation and improving household incomes.
https://thecooperator.news/minister-kasolo-directs-emyooga-saccos-not-to-pay-for-audit-services/
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