Journalists associations under the umbrella Kasese Municipality Journalists Saving and Cooperative SACCO have received Shs 30m under the Presidential Wealth Creation Initiative, Emyooga.
While meeting the Chairpersons of different media associations in Kasese Municipality earlier this week, the chairperson of the SACCO, Enock Friday Bwambale warned the journalists against misusing the funds but urged them to put them to good use for their development.
“I want to tell you that this money is a seed capital but not for sharing as the majority of you thought. It will be given out in form of loans to those who plied through their individual associations,” Bwambale said.
He stressed the need for beneficiaries to faithfully repay the loans they receive.
“Once you borrow the money, please repay it in the specified time because the interest rates are affordable compared to commercial banks.”
He cautioned defaulters that the strong arm of the SACCO Executive would get them, saying its by-laws are clear on how to handle such cases.
Stephen Kalisya, the Chairperson for TV Journalists of Kasese suggested that potential beneficiaries be vetted prior to receiving the funds.
“We need to put I place measures on how best we can trace the financial records of our colleagues and where they stay,” Kalisya advised, adding: “A business plan must also be attached to the loan application.”
Charles Tumusiime, the Chairperson for Town Centre Journalists’ Association A, re-echoed his concerns and revealed that some journalists had only joined the association because they thought Emyooga money way to be shared, and were unaware that it is a loan that attracts a small interest.
“We must be conscious when we are giving out this money to individuals because in my association some people have never saved a single coin but they also want a share of the Emyooga funds. Such people will never pay it back,” Tumusiime warned.
Kasese Municipality Commercial Officer, Godfrey Bwambale, noted that journalists were among several other Emyooga clusters that received Shs 30m each to boost their household incomes.
“I am happy that you have a few groups that you can easily manage. Please put your numbers to good use.”
Kasese district has received Shs 3.5 b under the Emyooga scheme, according to the district’s Chief Administrative Officer.
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