KWANIA –After passing the multi-layered fit-and-proper test, at least four out of 36 Savings and Credit Cooperatives (SACCOs) in Kwania district have finally received Shs 30 million each under the Presidential Initiative On Job and Wealth Creation, Emyooga.
The four SACCOs received the cash disbursements on May 6 during the official launch of the SACCOs.
Emyooga was launched in August 2019 by President Museveni to spur a shift from subsistence to market oriented production. The government set aside Shs 260 billion to bankroll the program. Each constituency is meant to receive Shs 560 million.
On January 15, 2020, the Ministry of Finance, Planning and Economic Development wired Shs 1.2 billion to Kwania district and each approved SACCO will receive Shs 30 million.
Catherine Akello, the Kwania district principal commercial officer, said the four beneficiary SACCOs in Kwania North constituency are part of the 36 SACCOs that should have received Emyooga funds in January this year. However, they didn’t fulfill the necessary requirements to qualify for the money.
“The government has now brought the bank closer to you; we are disbursing the seed capital now for those who have shown interest, please put the money to good use, use it to improve your quality of life,” she said.
According to Akello, the government allocated Shs 1.2 billion to 36 Emyooga SACCOs in both Kwania North Constituency and Kwania Constituency, to be disbursed to 476 Associations at the parish and sub-county levels across the district.
Akello urged beneficiaries to invest the money in small businesses to improve their livelihoods.
Andrew Opio, the chairperson of Kwania North Carpenters’ SACCO, said four SACCO groups that include; Teduka Carpenters, Acungi Carpenters, Bed-igen A and Kwania Joint Mansion received Shs 6.7 million, which they are supposed to pay back within one year at an interest rate of 8%.
He said when the money arrived many members refused to take it on learning that it was a loan and not free.
Several beneficiaries however, are happy. Akullo Anna Grace, from Bed-igen Carpenter Workshop, said she will use the money to open up a small business.
“We have received cash of Shs 2 million for our association of Bed-igen, Emyooga is real and is non-political, let us embrace the program, yes I will use the money to boost my tomato business to provide for my family,” she said in an interview.
Another beneficiary Twomo David Martin, a member of Teduka Ward Carpenters Workshop in Aduku Town Council, said he will use the money to open up a small business.
Kwania district deputy Resident District Commission (RDC) Faheeera Npalanyi Bbosa urged SACCO members to save in order to climb out of poverty. Bbosa also encouraged beneficiaries to embrace commercial farming.
“If you want to manage money you should adopt a saving culture, poverty is a very dangerous disease. It is worse than Covid-19 and HIV/AIDs. Don’t waste time on none issues. Hire land and cultivate, don’t waste time in urban centers doing small business,” she said.
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