MASAKA-About 300 best-performing Emyooya SACCOs in the 22 constituencies that make up the greater Masaka region have received more seed capital of Shs about 6 billion to grow their income generating activities.
The money will go to Emyooga SACCOs belonging to journalists, welders, elected leaders, carpenters, salon operators, persons with disabilities, fishermen, produce dealers, taxi operators, market vendors, restaurant owners, mechanics, boda-boda riders, veterans, performing artists and women, each getting Shs 20mln.
While handing over a cheque to the leaders of beneficiary SACCOs, the Minister of State for Microfinance, Haruna Kasolo said government was determined assist Ugandans to create jobs and wealth.
He thanked Emyooga SACCOs for the good performance which has helped members to improve their standards of living.
He instructed political and security leaders in greater Masaka to ensure that all the people in the region benefit from the programme.
He added: ”We want the Sacco’s to make good use of the additional funds for their members to grow their ventures from the loans they acquired.”
Masaka greater region has Emyooga 392 SSACCOs with 2094 associations. It comprises districts of Lwengo, Kalangala, Kalungu, Sembabule, Bukomansimbi, Kyotera, Rakai, Lyantonde and Masaka, and Masaka City.
The Microfinance Support Centre [MSC] Masaka zonal manager, Samson Magala said: “The beneficiary SACCOs were selected basing on their best performance in terms of savings, loan re-payment and good leadership that managed to mobilise more members on proper utilisation of funds.”
He disclosed that since the Emyooga Programme was launched in the region, over Shs 5bln savings has been realised from the beneficiary SACCOs.
Masaka regional coordinator of Emyooga Presidential Programme, Gonzaga Mutesasira said some Sacco’s have performed well in terms of savings and recovery of loans while a few SACCO members have failed to repay the loans.
He pledged to deal with Emyooga SACCOs whose members have failed to pay their loans, saying the money is supposed to be used by other beneficiaries.
The chairman of Nyendo-Mukungwe journalists SACCO, Issa Aliga said they initially got the seed capital of Shs 30mln which they used to buy cameras, and laptops. He said the additional Shs 20mln will help SACCO members to establish photography and filmmaking ventures.
”We are trying to encourage more journalists to be organised develop a culture of saving and create side-income ventures than relying only on their media house salary pay to sustain their families,” Aliga said.
Masaka district commercial officer, John Henry Sempijja urged more locals to form groups to be able to access loans from their Emyooga SACCOs.
Bukomansimbi district commercial officer, Patrick Balungi said 36 SACCOs from the constituencies of Bukomansimbi South and Bukomansimbi North will each get the additional Shs 20mln seed capital.
He said the district initially received the seed capital of Shs 1.120bln while a total Shs 540mln was recovered from the SACCOs that transacted loans.
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